USD/JPY Pulls Back After Testing Channel ResistanceUSD/JPY has slipped to 149.67, down 0.66% on the day after stalling near the top of a rising channel. The pair failed to reclaim the 50- and 200-day SMAs, which remain tightly aligned near 151.7, now acting as resistance.
🔺 Price is still inside a short-term rising channel, but today's bearish candle suggests waning momentum.
📉 MACD remains in bearish territory, and while it’s improving, there’s no crossover yet.
📉 RSI at 49.06 hovers at the midpoint, showing a lack of conviction either way.
Key Levels:
Resistance: 151.00–151.75 (confluence of moving averages)
Support: 146.95 (61.8% Fib retracement), then 143.71 (78.6% Fib)
A break below the channel could signal a return to the broader downtrend, while a close above 151.75 would shift the short-term outlook bullish.
-MW