USD/JPY BEARISH CHANNEL TOWARDS KEY 150.00 SUPPORT ZONEUS Dollar / Japanese YenCAPITALCOM:USDJPYZickey_11🔍 Chart Overview: The USD/JPY pair is currently trading within a clear descending channel, indicating sustained bearish momentum. The price action has formed consistent lower highs and lower lows, respecting both the upper resistance and lower support boundaries of the channel. 📊 Key Technical Observations: Range Formation: Initially, the pair moved sideways in a consolidation range before breaking structure to the downside — marking the transition from accumulation to distribution. CHoCH (Change of Character): The CHoCH confirms a shift in market sentiment from bullish to bearish, validating the start of the current downtrend. Resistance Rejection: Price recently rejected from the channel resistance area around 152.10 – 152.50, showing seller dominance and continuation of bearish control. Current Price Action: The pair is now approaching the lower boundary of the bearish channel near 150.00, a strong psychological and technical support zone. 📉 Projection: The forecast on the chart suggests a potential minor pullback toward 150.70 – 151.00 before resuming its downward move toward 150.00 support. A clean break below 150.00 could extend the decline toward 149.50 or even lower. However, if 150.00 holds, we could see a short-term bullish correction back to mid-channel levels. ⚙️ Trading Outlook: Bias: Bearish continuation within channel Resistance Zone: 151.10 – 151.50 Support Zone: 150.00 (key psychological level) Next Targets: ✅ First target: 150.00 ⚠️ Second target (if breakdown): 149.50