April 22 (Reuters) - The sky continues to fall for USD/JPY with the pair down to as low as 140.48 on EBS Monday. The bias remains down with de-dollarisation proceeding apace and especially so after U.S. President Donald Trump's bashing of Federal Reserve chair Jerome Powell , .

Key supports are eyed below, and these are expected to remain in speculators' sights going forward. Daily supports include Monday's 140.48 low, 140.45 and 140.33 on September 18 and 17, 2024.

Then there is 140.00, a level associated with possible option barriers. These barriers could be large and stops below possibly massive. A break below this level could target 139.58, a trough seen on September 16, 2024.

Fibonacci retracement levels are also on being eyed closely. Fibo 38.2% retracement of the 102.59 to 161.96 move between January 2021 and July 2024 comes in at 139.28. 50% retracement is at 132.27 and Fibo 61.8% at 125.26.

Tokyo players suggest 50% retracement of the 2021-2024 move could be achieved as the year progresses and especially if the Bank of Japan maintains its hawkish stance , . The Fed, for its part, could hold off on further cuts indefinitely pending data on the effects of U.S. tariffs and other Trump administration policies , .
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(Haruya Ida is a Reuters market analyst. The views expressed are his own)