USD/JPY H1 Technical Analysis: Accelerated Bearish MomentumLooking at the H1 timeframe for USD/JPY, we're seeing a significant bearish momentum with several key technical developments:
Market Structure:
Strong bearish trend continuation after breaking below 151.00 support
All moving averages aligned bearishly with accelerating downward slope
Clear lower highs and lower lows structure
Previous support levels being broken with momentum
Key Levels:
Previous Support (Now Resistance): 151.229
Current Price: ~150.15
Next Major Support: 149.98
Critical Resistance: 152.25 (Trend Line)
Technical Indicators:
Volume showing increased selling pressure
Momentum indicators in strong bearish territory
Price trading well below all major moving averages
Trend line resistance remains intact from previous highs
Trading Considerations:
Strong bearish continuation in play
Watch for potential retest of 151.00 as resistance
Key psychological level at 150.00 could provide temporary support
Monitor for any intervention risk given rapid JPY strengthening