USDJPY falls to new lows and approaches swing area between 147.20 and 147.338 ...Middle East

On the hourly chart, the latest move lower has pushed USDJPY below its 100-hour moving average at 147.713 (see chart below), which now acts as immediate resistance. Sellers will look to keep the price below this level to maintain downside momentum.

Earlier today, the price attempted to push higher but stalled at the 200-hour moving average at 148.272 before reversing lower. This rejection reinforces the bearish bias, with traders now watching for a decisive move around the 147.20–147.338 support zone.

This article was written by Greg Michalowski at www.forexlive.com.

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