USDJPY: Signals Deeper Correction Risk
USD/JPY has broken down from a rising channel on the daily chart, signaling that bullish momentum is weakening and a broader correction may already be underway.
Price is now trading below key daily support, and the recent rebound on the 60-minute chart appears corrective rather than impulsive.
The highlighted red zone acts as a strong intraday resistance, where sellers may step back in.
As long as price remains below this resistance, the bearish scenario stays valid, with potential downside targets at:
153.48
152.96
152.29
With USDJPY historically sensitive to BOJ comments and intervention risk, volatility can expand rapidly. Risk management is critical at these levels.
You may find more details in the chart.
Thank you and good luck!
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