USD/JPY has cascaded from 163.95 to sub-157 across the week, the dominant leg coming on the suspected coordinated intervention scare and the post-FOMC USD slide. Price gapped lower into the new week's open near 157.15 and is now probing the 157.00 round level, having printed a fresh weekly low at 156.99. Every rally this week has stalled beneath prior support-turned-resistance, with the Friday close at 157.65 and the 158.51 spike low the nearer caps.
Support: 157.00, 156.99
Resistance: 157.65, 158.51
What it said to watch
Close back above 158.51 would break the run of lower highs
Failure to hold 157.00 confirms continuation toward fresh lows
ISM Manufacturing PMI Mon 14:00 UTC could reshape the USD leg
Labor Cash Earnings Aug 4 23:30 UTC is the key JPY catalyst
USDJPY has trended hard lower all week from Monday's 163.8 open, accelerated by the coordinated intervention air-pocket that yanked the pair from 163 toward 158, and price sits deep below EMA20 and EMA50. The weekend gap opened near 157.15 and the pair drifted to a fresh session low at 156.997, with RSI(14) pinned in oversold territory after the BoJ hold and firmer Tokyo CPI reset the range. Friday's 157.65 close now caps the immediate bounce.
Support: 156.997
Resistance: 157.654, 158.51
What it said to watch
A close back above 157.65 eases the oversold pressure and reopens the 158.51 swing area
Failure to hold 156.997 confirms continuation of the lower-low sequence
ISM Manufacturing PMI Mon 14:00 UTC and Labor Cash Earnings Aug 4 could materially shift this read
Series of lower highs and lower lows, new week low.
USD/JPY collapsed through the week from the 163.9 area, tearing past 160 and the 158.00 spike low amid suspected coordinated intervention and the BoJ hold. Price gapped lower into this week's open to print a fresh low at 157.15, with only a shallow bounce back toward the 157.65 prior close since. RSI(14) is pinned in oversold territory well below both EMAs.
Support: 157.15
Resistance: 157.65, 158.00
What it said to watch
Reclaim of 158.00 would ease the downside pressure and break the lower-high sequence
Failure to hold 157.15 confirms continuation lower
Labor Cash Earnings Aug 4 and ISM Manufacturing Mon could materially shift this read
Intervention risk remains live after the 163-to-157 whipsaw
USDJPY has been in a persistent downtrend since midweek, accelerating through 160.00 on the suspected MoF-driven intervention spike that dragged the pair from ~163 toward the 158 area. Price gapped lower into the weekend and now trades near the fresh weekly low around 157.15, holding just above the 157.00 round number with RSI(14) oversold and price extended well below EMA20 and EMA50. Prior support at 158.50 now caps upside on any bounce.
Support: 157.15, 157.00
Resistance: 158.50, 160.00
What it said to watch
H1 close back above 158.50 would ease the downside pressure
Failure to hold 157.00 confirms continuation of the lower-low sequence
JPY Labor Cash Earnings Aug 4 and US ISM Mon could materially shift this read
Intervention risk noted above 162.00 remains a mean-reversion factor for the wider range
USDJPY has been under heavy pressure all week, unwinding from Monday's 163.90 area after suspected coordinated MoF intervention yanked the pair from ~163 to 158. The last bar sliced through the 157.96 spike-low support to a fresh session low at 157.512, closing near lows with RSI(14) deeply oversold. Price sits well below EMA(20) and EMA(50), and every intraday bounce this week has capped at successively lower highs.
Support: 157.512, 157.956
Resistance: 159.237, 160.00
What it said to watch
Reclaim above 159.24 would break the run of lower highs
A close back above 160.00 psych would ease downside pressure
Labor Cash Earnings Aug 4 could reprice the BoJ-hike/JPY read
Intervention risk flagged, keeping the tape whippy
USDJPY has collapsed from the 163.90 weekly high, with suspected coordinated MoF intervention yanking the pair from 163 into the 158 zone mid-window. Each bounce toward 160.00 has been sold, and the final bar broke the prior spike low to print a fresh low at 157.51 on heavy range expansion. Structure is a clean sequence of lower highs and lower lows with RSI stretched into oversold territory.
Support: 157.51
Resistance: 160.00
What it said to watch
H1 close back above 160.00 psych/intervention zone would ease the downside pressure
Sustained break of 157.51 fresh low extends the impulse lower
Labor Cash Earnings Aug 4 23:30 UTC could reprice the JPY leg sharply