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The USD/JPY currency pair faced heavy selling pressure after testing a key technical resistance cluster near 155.04–155.21 and the 200-hour moving average at 154.90. Although buyers attempted to push the pair higher, reaching an intraday peak of 155.21, they failed to establish control above this level. Consequently, sellers stepped in and pushed the exchange rate back down toward the 154.39 region.
From a technical trading perspective, this rejection confirms the validity of the resistance zone and keeps sellers in firm control of short-term price action. A sustained recovery would require buyers to push prices back above 154.90 and hold above 155.21. On the downside, the 100-hour moving average near 153.88 serves as the immediate support level; breaking below it could accelerate selling pressure toward 152.93.
Traders should take away key risk management lessons regarding technical confluence, where moving averages and swing areas align to form clear pivot zones. Going forward, market participants will be watching whether support at the 100-hour moving average holds or if the broader pullback in the US Dollar extends further.
