The USD/JPY pair is under renewed downward pressure following the disappointing US June non-farm payrolls, which came in nearly half the expected figure. This weak labor data has triggered a broad dollar sell-off, dragging USD/JPY down from recent highs around 161.50 to test critical support near 160.00. Traders should monitor this level closely, as a breach could signal further downside momentum. Concurrently, the euro, Australian dollar, and British pound are capitalizing on the dollar's weakness, hitting multi-week highs. Market participants should weigh the potential for a dollar correction against geopolitical and economic developments ahead.