USDJPY INTRADAY capped bearish below 151.20 awaits tariff dataThe USDJPY currency pair remains in a bearish trend, with the recent price action showing signs of an oversold bounce. While a temporary rebound is in play, the broader sentiment remains weak unless a decisive breakout occurs.
Key Levels to Watch:
Resistance Levels: 151.21 (critical level), 152.20, 153.04
Support Levels: 149.17, 148.26, 147.22
Bearish Scenario:
A rejection from the 151.21 resistance level could reaffirm the downside bias, leading to a continuation of the bearish move toward 149.17, with extended declines targeting 148.26 and 147.22 over the longer timeframe.
Bullish Scenario:
A breakout above 151.21 with a daily close above this level would challenge the bearish sentiment, opening the door for further gains toward 152.20, followed by 153.04.
Conclusion:
The market sentiment remains bearish, with 151.21 acting as a critical resistance zone. A rejection from this level could reinforce the downtrend, while a confirmed breakout would shift the outlook to bullish, favouring further upside. Traders should closely monitor price action at this key level for confirmation.
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