USD/JPY – Intraday Technical Analysis – October 8, 2025JAPANESE YEN / U.S. DOLLARFX_IDC:JPYUSDHenrybillionTechnical Overview: USD/JPY has transitioned from a short-term uptrend to a strong bearish move. The chart shows a consolidation zone (highlighted in light green) where the price ranged before breaking down sharply. The descending trendline confirms sustained selling pressure, creating a clear downtrend on the hourly chart. Key Levels: Support: 0.006540 – 0.006550 USD (recent low, short-term buying interest) Resistance: 0.006580 – 0.006600 USD (descending trendline, previous pullback area) Next Target: 0.006500 USD if bearish momentum continues Indicators: Price consistently below short-term EMA cluster, confirming strong bearish bias. RSI is approaching oversold territory; a minor pullback is possible, but trend remains down. Trading Strategy: Sell Setup (Trend-following): Entry: 0.006570 – 0.006580 USD (retest of trendline) Stop Loss: 0.006600 USD Take Profit 1: 0.006540 USD Take Profit 2: 0.006520 USD Buy Setup (Countertrend / Reversal Play): Entry: 0.006540 – 0.006550 USD (near strong support) Stop Loss: 0.006530 USD Take Profit: 0.006580 – 0.006600 USD (minor retracement zone) Market Notes: The bearish trend is dominant; priority should be selling on retracements. Watch the 0.006540 support zone closely for potential short-term reversals. High-impact economic events from Japan or the U.S. may create short-term volatility, affecting intraday trades. Conclusion: USD/JPY shows a strong downtrend on the hourly timeframe after breaking consolidation. Trend-following strategies are favored, with careful monitoring of support zones for potential countertrend trades. Discipline and strict risk management remain crucial. Follow for more precise USD/JPY intraday setups and updated trade entries.