USD/JPY Retreats Amid Neutral Intraday Bias

The USD/JPY currency pair is experiencing neutral intraday bias as it retreats from its previous levels.

According to ActionForex, this consolidation should be brief if the 55-period 4H EMA (currently at 162.98) holds.

If USD/JPY breaks above 153.97, it will resume its larger uptrend and target a price of 166.07, which is the 138.2% projection of the rise from 152.25 to 160.71 at 155.01.

However, if the pair sustains a break below the 55-period 4H EMA, it will argue that it's already correcting its rise from 155.01 and may fall deeper to the 160.46 cluster support (38.2% retracement of 155.01 to 163.97 at 160.54).

In the bigger picture, the rise from 139.87 (2025 low) is seen as another rising leg of the long-term uptrend.