USD/JPY outlook: Bears accelerate

Slobodan Drvenica Windsor Brokers

USD/JPY

Bears accelerated on Tuesday and probe below 143 handle following breach of Fibo support at 143.23 (61.8% retracement of 139.88/148.64 uptrend.

The downtrend from June 23 spike high (148.02) remains firmly in play and keys supports at 142.30 (daily higher base) and 141.95 (Fibo 76.4%), guarding key supports at 140.00/139.88 (psychological/2025 low of Apr 22).

Daily studies are in full bearish configuration, with growing negative momentum and recent break below daily cloud, seen as highlights.

Today’s close below broken Fibo (143.23) to confirm bearish signal.

Meanwhile, oversold conditions on daily chart provide initial warning that bears may pause for consolidation/limited correction.

Extended upticks should stay below cloud base (144.35) to keep bears in play.

Res: 143.23; 143.75; 144.05; 144.26.
Sup: 142.79; 142.30; 141.95; 141.61.

Interested in USD/JPY technicals? Check out the key levels

1. R3 145.59
2. R2 145.18
3. R1 144.61
PP 144.19
1. S1 143.62
2. S2 143.21
3. S3 142.64

Author

Slobodan Drvenica

Windsor Brokers

Industry veteran with over 22 years’ experience, Slobodan Drvenica joined Windsor Brokers in 1995 when he was an active trader for more than 10 years, managing the trading desk and own account departments.

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