USDJPY 15M: Bearish outlook seen, further downside below 137.75
On the 15M timeframe, price is showing strong bearish correction. A pullback to the resistance zone at 138.5, which coincides with the 78.6% Fibonacci retracement, and a break below downside confirmation at 138 could present an opportunity to play the drop to the resistance-turned-support zone at 137.75. Price is holding below ichimoku clouds and 20 EMA, supporting our bearish bias.