The USDJPY has completed an up-and-down lap that took the pair from the close on Friday Feb 7 at 151.39 to a high last week at 154.79 and back down to the 151.39 level. The price is stalling at a swing area between 151.20 to 151.40 which is ahead of the double bottom from the February 7 low.

If that double bottom can be broken, and stay broken, the door opens for more selling this week that could take the pair to the 50% of the move up from the September low. That level comes in at 149.22.

On the topside, if the low area for 2025 can stall the fall again, a rotation higher can be restarted. However, it would take a move above, the cluster of MAs including the 200-hour MA at 152.468, the 200 day MA at 152.675, the 100-hour MA at 152.93, and the 100 day MA at 153.126 to ultimately swing the bias back to the upside.

The video above outlines the levels in play and shows why.they are important in trading today.

Source: Forex Live