USD/JPY Intraday: The Downside Prevails Below 147.40
The USD/JPY intraday outlook shows clear bearish pressure as the pair remains capped below the key pivot level of 147.40. This resistance zone acts as a ceiling, limiting any upward attempts. As long as the price trades below this barrier, the short-term bias continues to favor the downside. Sellers are expected to remain in control, pushing the pair towards the immediate support levels at 146.55 and 146.20.
Technical indicators confirm this bearish sentiment. The Relative Strength Index (RSI) is pointing lower and remains below the neutrality zone of 50, highlighting sustained selling momentum. This indicates that buyers are currently unable to regain control, while sellers dominate the intraday action. At the same time, the pair is trading below both its 20-period and 50-period moving averages, which adds further confirmation to the downward outlook.
From a chart perspective, the failure to break above 147.40 suggests that bulls are losing strength. Each rally attempt has been met with selling pressure, showing that the market respects this resistance level. As a result, the path of least resistance remains to the downside in the near term.
However, traders should remain alert to the alternative scenario. A break and sustained move above 147.40 would invalidate the bearish bias, potentially opening the way for a recovery towards 147.65 and 147.90. This makes the pivot level critical for both buyers and sellers to watch.
In conclusion, the USD/JPY intraday analysis suggests that the downside prevails while the pair remains capped below 147.40. Short positions remain favored, with targets set at 146.55 and 146.20. Risk management is essential, as intraday price action could remain choppy around key levels. Traders are encouraged to use strict stop-losses and adjust position sizing carefully.
