The USDJPY fell sharply, breaking decisively below the 100-hour moving average at 147.775 and the 200-hour moving average at 147.57 (blue and green lines). That move immediately stripped away the bullish bias from a technical perspective and shifted control firmly to the sellers.
The decline has since carried the pair into a key swing area/floor that has repeatedly slowed downside momentum since early August (see red numbered circles). The one exception came on August 14, when the level briefly broke before failing—buyers quickly re-entered on August 15 to lift the pair higher.
Now back near that same support zone, price action is stalling once again. A decisive break lower would open the door toward the August low at 146.206, reinforcing bearish momentum. Conversely, if buyers hold the floor, a rotation back toward 147.07 is possible, with a break above that level inviting further upside probing.
