The multi-month uptrend from the April low near 155 topped at 163.99 in mid-July, then reversed hard as confirmed US-Japan joint intervention collapsed price back below the 158 200-dma over the last three sessions. Price now trades well under EMA20 and EMA50, both rolling over, with RSI sliding toward oversold. The 155.45 prior low is the next reference below; 158 now caps as resistance.
Support: 155.45
What it said to watch
Daily close back above the 158 200-dma reopens the path toward 160
Failure to hold 155.45 prior low confirms a lower low
Labor Cash Earnings Tue plus fresh intervention headlines could materially shift this read
A months-long uptrend into the 163.9 double top reversed violently over the last two sessions after confirmed US-Japan joint intervention, USD/JPY collapsing roughly 600 pips back under the 158 200-dma. Price now trades below both EMA(20) and EMA(50) for the first time since April, with RSI deeply oversold. Demand around the April low near 155.03 is the next major reference while 158 caps overhead as the 200-dma.
Support: 155.45, 155.03
What it said to watch
A D1 close back above 158 (200-dma) would ease the reversal read
Fresh intervention headlines could extend the drop toward the 155.45 downside pivot
JPY Labor Cash Earnings Tue 23:30 UTC could add fundamental JPY support