The USDJPY peaked earlier today near a key swing area between 147.01 and 147.338 and has since rotated lower, signaling potential exhaustion from buyers. The failed push higher highlights resistance and puts focus on support levels below.
The next key target lies within the 145.92 to 146.26 zone — a swing area that includes the 61.8% retracement of the move down from the June high at 145.978. This lower zone will be closely watched for buyer interest.
A break below this support area would tilt control back to the sellers, exposing further downside targets at 145.347, followed by the 100-bar moving average on the 4-hour chart at 145.02.
Key levels:
Resistance high (today): Near swing area between 147.0 1M14 7.33
Support zone: 145.92–146.26
61.8% retracement: 145.978 (within the support zone)
Next support below: 145.347 (50%) and 100-bar MA (4H) at 145.02
This article was written by Greg Michalowski at www.forexlive.com. Read More Details
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