USD/JPY - Sharp Downward, Bears Dominate!USD/JPYOANDA:USDJPYAuricVerse_HQHi traders, is this breakdown clear enough? Looking at the 8H chart, we see that USDJPY has sharply broken the long-term uptrend line and is currently still below the Ichimoku cloud. The current rebound is bringing the price back to the 160.0–161.0 region, but in my opinion, this is more of a retest than a bullish reversal. In my view, if sellers continue to reject the price in this area, I still favor a further decline to: 🎯 Target 1: 156.70 🎯 Target 2: 155.20 The macroeconomic environment is also providing slight support for the JPY as expectations of further BOJ tightening increase, while recent US CPI data reduces the likelihood of the Fed continuing to raise interest rates. On the other hand, tonight's US PPI could still cause significant volatility in USDJPY. I don't favor selling around 159. A failed retest of 160–161 would create a better structure. If the H8 chart recovers and holds above 161.0, the bearish scenario will weaken significantly. AURICVERSE View: The breakdown has happened; now the 160–161 region will show whether sellers still have control. How are you reading this structure? Share your view below.