USD/JPY medium-term bias is bearish with intraday support at 148

The weekly chart has posted a bearish Outside Candle. The monthly chart is likely to highlight the same formation. This 2-candle pattern is often seen at the top of a trend and the start of a new downward bias.
The four-hour chart highlights the completion of a bearish 5-wave count at 147.15. The Elliott Wave theory would suggest we are now in a corrective 3-wave pattern to the upside. The stalling in bullish momentum and downside reversal from yesterday's swing high of 149.76 has resulted in a Fibonacci confluence level at 151.37. This will form a bearish Bat pattern. Bespoke support is located at 148.65.
Conclusion: swing traders should look to 151.37 as a medium-term topping formation. Intraday players could look to 148.65 as the completion of the BC leg and the start of the CD leg to the upside. I will be monitoring price action 148.65 for bullish reversal confirmation. An update will be sent.
Support: 148.65 (bespoke), 147.45 (88.6%), 140.36 (medium-term support)
Resistance: 149.76 (swing high), 149.92 (bespoke), 151.37 (bearish Bat)