USD/JPY pushed into a targeted resistance cluster near 155.04-155.21 and stalled, with sellers pushing the pair back below its 200-hour moving average. The pair now trades near 154.39, keeping sellers in control unless buyers can reclaim the cluster.
USD/JPY buyers had their shot at resistance and came up short. The pair reached 155.21 before stalling, running into a resistance cluster that had been flagged in advance: the falling 200-hour moving average at 154.90 and a swing area spanning 155.04 to 155.21.
Sellers leaned against that area and pushed the pair back below the 200-hour moving average. USD/JPY now trades near 154.39. Buyers made a play at the cluster but could not establish a foothold above it, which keeps sellers more in control for now.
A move back above 154.90, followed by a sustained break above the 155.04-155.21 swing area, would be needed to shift control back toward buyers. Until then, rallies into that zone can continue to attract sellers.
On the downside, the rising 100-hour moving average at 153.88 stands as the next important target. A break below that level would strengthen the bearish bias and increase the potential for another move toward the recent low at 152.93.
The episode illustrates why traders treat support and resistance as a zone rather than a single price. USD/JPY moved slightly above the 200-hour moving average before sellers showed up within the broader swing area, and that brief overshoot did not invalidate the resistance.
What mattered was whether buyers could clear the entire cluster and hold above it — they could not. Reaching a target, in other words, is not the same as breaking it.
Source: Investinglive
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