Headline: USD/JPY Slips to 100-Hour Moving Average as Bears Test Momentum
Key Takeaways
The USD/JPY pair eased in early trading, briefly piercing its 100-hour moving average as sellers probed for follow-through. The move marks a pause in the recent upswing and places the short-term technical outlook in the spotlight for forex traders tracking the dollar-yen cross.
After a steady pullback, USD/JPY dipped to the 100-hour moving average near 156.28, printing an intraday low around 156.22 before stabilizing. This level is the first meaningful intraday support; a sustained break below it would expose the 38.2% Fibonacci retracement of November’s advance around 155.94. If momentum accelerates through that area, attention shifts to the 50% retracement and the rising 200-hour moving average clustered in the 155.35–155.39 zone.
For sellers to seize control, price would need to close decisively beneath these layers of support, signaling a deeper correction. Until then, the tape suggests indecision at the first target, with the potential for rebounds if buyers defend the 100-hour moving average. The near-term bias hinges on whether bears can convert this test into a break or bulls can reassert trend support.
Key Points: – USD/JPY pulled back to the 100-hour moving average near 156.28, with a low around 156.22. – First key support: 100-hour MA; a clean break would open a move to the 38.2% November retracement near 155.94. – Deeper downside levels include the 50% retracement and the 200-hour MA around 155.35–155.39. – Bears need decisive closes below these supports to confirm a broader correction. – Holding above the 100-hour MA keeps the short-term outlook balanced, with rebound risks intact.
