USDJPY: Is a Big Drop Coming?U.S. DOLLAR / JAPANESE YENFX_IDC:USDJPYzarixschoolUSDJPY could be setting up for another rally. But I think we might see one more drop first. The weekly chart is still undecided, and the daily chart is showing signs of short-term weakness. Here's what I'm watching. 🔴 First, we could see more selling. USDJPY may continue moving lower for another 1–2 trading days. If buyers can't push price back above 157.90 and get a daily close there, we could see another drop, potentially breaking the recent low. The downside levels I'm watching: • 156.28 • 155.96 • 155.34–155.15 if selling continues 🟢 But here's where things get interesting. A daily close above 157.90 would be my first sign that buyers are stepping back in. If that happens, I'm watching for a move toward: 🎯 158.83 — First upside target 🎯 159.30 — Second upside target And if the rally keeps going, USDJPY could make a new high. The weekly chart has one more important level: 158.30. A weekly close above 158.30 would strengthen the bullish outlook and suggest the pair hasn't formed its weekly top yet. MY GAME PLAN I'm not rushing into a trade here. I want to see whether USDJPY drops a little further before buyers return. For now, my outlook is neutral. Above 157.90 on a daily close? I'll start looking for bullish opportunities. Still below 157.90? The downside risk remains. Sometimes the best trade is the one you wait for. What do you think? Will USDJPY drop again before the next rally, or are buyers ready to take control? Let me know below. 👇