USD/JPY Bearish Rejection from Trendline – Targeting 144.00 and

Technical analysis for USD/JPY on the 4-hour timeframe, showing a rejection from a descending trendline with potential downside movement. Here's a breakdown of the analysis:


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Technical Overview

1. Descending Channel Formation

Price is moving within a descending wedge/channel.

A rejection from the upper trendline (red arrow) suggests continuation of the broader downtrend.


2. Resistance & EMA Confluence

Price is struggling around 144.80, with resistance from the 200 EMA (144.446) and 50 EMA (144.415) acting as dynamic resistance.

This confluence strengthens bearish sentiment.


3. Bearish Price Projection

The chart anticipates a decline toward:

First target point: 144.003 – a short-term support area.

Second target point: 142.827 – key horizontal support and base of the wedge.



4. Support Level

Key support trendline holding price previously is being eyed for potential bounce or breakdown.


5. RSI Momentum

RSI is neutral to slightly bearish (53.79), showing room for a downside move without being oversold.



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Conclusion / Idea Summary

Bias: Bearish

Entry Zone: Near current price after rejection (~144.80)

Targets:

First: 144.00

Final: 142.83


Invalidation: Break above the upper trendline (~145.20) or sustained close above the 200 EMA




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