USD/JPY – Intraday Technical OutlookJAPANESE YEN / U.S. DOLLARFX_IDC:JPYUSDHenrybillionAfter a sharp bearish leg early this week, USD/JPY has entered a short-term accumulation range near the 0.00654 level. The H1 structure shows three clear phases: a strong decline, a bullish correction channel, and a new bearish impulse that has recently reached equilibrium. Technical overview: The pair completed a descending channel with momentum fading near the recent low. Price is now consolidating inside a narrow box pattern — a sign of potential accumulation before a corrective bounce. A short-term bullish reaction is expected if the price breaks above 0.00656–0.00657, targeting 0.00660–0.00663. The key support lies around 0.00653–0.00652; a breakout below this zone may resume the bearish trend toward 0.00648. Trading strategy: - Buy scenario: Wait for a confirmed breakout above 0.00657 with strong volume; targets 0.00660 → 0.00663. - Sell scenario: Only consider shorts if price rejects 0.00657 and breaks below 0.00653; targets 0.00650 → 0.00648. The market is currently in a decision zone. Traders should remain patient and wait for confirmation from price action before committing to a direction. - Save this post if you find it useful, and follow for more daily trading insights and strategies.