USDJPY Technical Update

USDJPY has seen a significant decline today, breaking decisively below key levels. The moving average of 200 bars on the 4-hour chart, now around 144.86, has remained unbroken throughout the US trading session. This marks a notable shift in short-term momentum, as sellers gain a stronger foothold.

The decrease became more pronounced when the currency pair failed to hold above the swing area of 143.57 and 144.03 during recent trades. Sellers seem to be focusing on this area, pushing the prices further down. There’s an expectation for the market to test the 61.8% retracement level from the rallies in April to May, which sits at 143.225. The lowest point today was 143.29, lingering just above a significant Fibonacci support level.

Looking ahead, if the prices can hold above 143.22–143.29, it might set the stage for a potential bounce or corrective shift. However, buyers need to push the pair back up past 144.03–144.26, alongside recovering above the moving averages of 200 bars and 100 hours, both of which are clustering around 144.86.

📌 Key Levels to Monitor:

• Support:
  • 143.29 – Session low
  • 143.225 – 61.8% retracement from April to May
  • 142.35 – Swing low from May 6th
  • 141.64 -142.109 – Next drawback swing area
• Resistance:
  • 143.573–144.026 – Swing area
  • 144.18-144.257 – 200 bar MA and 50% retracement on 4-hour chart
  • 144.858 – Combined 100 bar MA (4 hours) and 100 hours MA
  • 145.91 – 200 hours MA (recent ceiling)

🔻 Bias:
A break below 144.03 and a dip past 143.25 could amplify negative momentum, leading the market towards deeper retracement levels.