Hello Traders,
Below is my analysis of USDJPY currency pair from H1 perspective.
Trend & Sentiment
USDJPY is in a strong downtrend, forming lower highs and lows. The recent break below 153.819 confirms bearish momentum, with sellers firmly in control.
Key Levels
Resistance: 153.962 (Minor), 154.653 (Major)
Support: 153.276
Possible Movement
Bearish Continuation: Likely toward 152.466 (target) as long as the price stays below 154.653.
Retracement Risk: Minor resistance at 153.962 may cap any short-term bounces.
Reversal Signal: A break above 154.653 could shift momentum to bullish.
Conclusion
The outlook remains bearish with a focus on 152.466, while resistance at 154.653 defines the trend's invalidation point.
Do let me have your thoughts.
Cheers and happy trading!