Despite the steady decline in price, the USDJPY chart is giving signals about a possible completion of the current bearish momentum.
At a higher interval, a correctional wave [iv] continues to form. After its completion, the market will again move upward. As part of this movement, the formation of wave [v] with an update of the local maximum should be seen.
The analysis of the wave structure on the lower time interval indicates the development of an upward impulse. The price forms the last wave (v). After its completion, the market may move into a correction.
Despite the current downward movement on the USDJPY chart, the situation may change soon. The corrective wave is close to completion, which may indicate the possibility of a price reversal.
In the current situation, it is worth paying more attention to long positions.