USD/JPY breaks down after 200-day MA rejection signals bearish reversal
USD/JPY has entered a bearish phase after failing to break above the crucial 200-day moving average at 147.50, triggering a technical breakdown that has pushed the pair down 0.8% to 146.20. The rejection at this key resistance level confirms selling pressure and suggests further downside potential. Technical indicators show bearish divergence on the RSI and MACD crossing below its signal line, reinforcing the negative outlook. The analysis also notes EUR/USD maintaining a constructive bias above 1.1000. For USD/JPY, immediate support lies at 145.80 (previous week's low), with a break potentially accelerating losses toward 145.00 psychological support. Resistance now sits at 146.80, with the failed 200-day MA at 147.50 acting as a strong ceiling. The bearish reversal pattern suggests yen strength may persist amid risk-off sentiment.
Related Symbols:
USDJPY
EURUSD
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