The medium-term chart is very bearish, it has broken the 140 level

However, bears need to register a weekly close under the 140.49 Fibo

140.49 Fibo is a 61.8% retrace of the 127.22-161.96 (2023-2024) EBS rise

That would increase the scope for a bigger drop to test 135 level

14-week momentum remains negative, reinforcing the underlying bearish bias

USD/JPY trader TGM2336. Previous update nL1N3KV06G