Technical Overview (As of 9:32 AM)
- Price: 147.233
- Trend: Short-term bearish
- Indicators Used:
- SMA 9 (Simple Moving Average) – Price is trading below the SMA
- RSI (Relative Strength Index) – Currently near 40 (mild bearish momentum)
🔍 Price Action Breakdown
In the 1-hour timeframe, USDJPY is currently showing signs of weakness as it trades around 147.233, dipping below the 9-period Simple Moving Average (SMA). The recent candles are mostly bearish with lower highs and lower lows, signaling selling pressure.
After a failed attempt to break above 147.800, the pair reversed sharply, forming a descending structure. A strong red candle has just closed near support, suggesting sellers are in control.
📉 RSI Analysis
The 14-period RSI is currently hovering around the 40 level, which typically signals bearish momentum, though not yet in oversold territory. The indicator has been trending downward since the early Asian session, confirming a loss in bullish strength.
🔎 Key Levels to Watch
- Immediate Resistance: 147.400 (recent structure break)
- Key Support: 147.000 (psychological level + previous rejection area)
- Next Resistance Above: 147.800 – last peak before reversal
- Oversold Zone (RSI): Below 30 – still has room to fall
📌 Trade Outlook
The market is leaning bearish in the short term, but it's approaching a key support zone near 147.000. If this level breaks convincingly, we could see further downside toward 146.800.
However, if bulls manage to hold 147.000 and push back above 147.400, a short-term reversal or consolidation could follow.
✅ Trading Plan Suggestion
- Bearish Bias: Below 147.400
- Potential Entry (Short): On a retest and rejection near 147.400
- Stop Loss: Above 147.600
- Target Zones: 147.000 and 146.800
⚠️ Always use proper risk management and confirm with additional confluences before trading.
📣 Final Thoughts
With bearish momentum building and price action confirming downside pressure, USDJPY may remain weak in the intraday session unless buyers defend 147.000 aggressively. Keep an eye on how the market reacts around this critical zone for your next move.
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