The USDJPY extended its move lower today, breaking decisively below the 200-bar moving average on the 4-hour chart (currently near 144.86) and staying below that level through the U.S. session. The move marked a key shift in near-term momentum as sellers tightened their grip.
The decline accelerated after the pair failed to sustain above the swing area between 143.57 and 144.03, with sellers leaning against that zone during the latest correction. The subsequent move lower pushed price action toward the 61.8% retracement of the April–May rally, which comes in at 143.225. The low of the day reached 143.29, stalling just above that Fibonacci support.
Looking ahead, holding above the 143.22–143.29 area keeps the door open for a bounce or corrective move. However, for buyers to regain control, the pair would need to push back above the 144.03–144.26 swing area and ultimately reclaim the 200-bar moving average and 100-hour MA, both clustered near 144.86.
? Key levels to watch:
Support:
143.29 – Session low
143.225 – 61.8% retracement of April low to May high
142.35 - Swing lows from May 6
14164 -142.109 – Next downside swing area
Resistance:
143.573–144.026 – Swing area
144.18 to 144.257 – 200 bar MA on the 4-hour chart and the 50% retracement
144.858 – Converged 100-bar MA (4-hour) and 100-hour MA
145.91 – 200-hour MA (near-term ceiling)
? Bias: Bearish below 144.03; Break of 143.25 would increase downside momentum toward deeper retracement targets.
This article was written by Greg Michalowski at www.forexlive.com.Hence then, the article about usdjpy falls below key support tests fibonacci retracement zone was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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