USDJPY: Massive Rejection – Bearish Continuation?U.S. Dollar / Japanese YenFOREXCOM:USDJPYBMN_TradesThe week has opened with significant pressure on the DXY and USDJPY, dropping over 0.5% at the start of the session. While some might see this as a minor retracement, the technicals suggest a much larger structural shift is underway. The Technical Confluence The recent price action wasn't random. It was a reaction to a high-confluence Point of Interest (POI). We are seeing a sharp rejection at the intersection of: Local Resistance Trendline: A multi-touch descending line. 0.618 Fibonacci Level: The "Golden Ratio" retracement acted as a perfect ceiling for the recent pullback. The Bearish Thesis As long as the price remains under the descending trendline, the bearish narrative is firmly in play. The failure to reclaim the 0.618 level suggests that the "path of least resistance" is now to the downside. Targets & Key Levels Primary Target (TP1): 151.50 (Structural Support). Secondary Target (TP2): 149.50 (Major Liquidity Pool). Strategic Outlook I am maintaining a bearish bias as long as the H4/Daily candles close below the trendline. A breakdown of recent local lows will likely accelerate the momentum toward our targets. Disclaimer: Not financial advice. Markets are volatile; always manage your risk and wait for candle confirmation.