The USDJPY is pressing lower, testing the bottom of a key swing area between 146.55 and 146.83. This zone has been defined by multiple swing lows dating back to early August (see red numbered circles), making it a pivotal support region.
A break below 146.55 would open the door for a move toward last week’s low near 146.30, followed by the August low at 146.206. Just beneath that sits the rising 100-day moving average at 146.14, further reinforcing the significance of this support cluster. Holding above keeps buyers in the game, but a decisive break would tilt control toward the sellers.
