USD/JPY – Intraday Technical Outlook

After 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.
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