FX.co ★ Jackroay | USD/JPY

I am observing USD/JPY on the M15 chart trading below the daily pivot at 154.908, and I interpret this as a clear sign that sellers currently dominate the intraday structure. I am watching the 154.055 yLow as the first magnet for price if the decline continues, and I am prepared for the move to extend toward 153.84–153.50 where Fibonacci expansion and prior structure suggest stronger bearish interest. I am mapping supports at 152.669, 152.179, and 151.285 as deeper objectives if momentum accelerates, because I see no meaningful absorption yet on pullbacks. I am treating 154.30–154.50 as a digestion zone rather than a reversal area, because I keep noticing shallow pauses without aggressive buyouts or V-shaped recoveries. I am identifying the 154.80–155.00 band as the key invalidation zone for shorts, because I believe only a reclaim and consolidation above it would weaken the bearish narrative. I am reading the sequence of lower highs and lower lows on H1 as structural confirmation that rallies are being sold into. I am interpreting the lack of strong bullish continuation after lower wicks as evidence of technical pauses within a broader decline. I am planning to sell pullbacks rather than chase price, because I prefer entries near intraday averages and prior micro-resistance. I am expecting Asia to continue the existing direction if price fails to recover 154.80, and I am anticipating London to reinforce momentum if that condition holds. I am cautious about America creating volatility spikes, yet I remain focused on structure unless 155.20 is firmly reclaimed.

I am also acknowledging the possibility of a corrective push toward 155.24 if buyers briefly regain initiative, and I am prepared to treat that area as a potential selling zone rather than a breakout invitation. I am watching MA84 near 155.76 and MA336 as dynamic ceilings that could attract false bullish attempts before renewed selling. I am considering 156.29 and 157.14 only if a genuine shift in structure occurs, because I currently see them as distant resistance levels rather than active targets. I am aware of divergence near 154.06, yet I am requiring strength above 155.00 before respecting it as a reversal signal. I am marking 154.20, 154.00, and 153.50 as stepping stones where stronger buyers might appear, but I am not assuming their success without confirmation. I am prepared for a temporary rebound toward intraday averages on M15, and I am ready to use that rebound for short entries if momentum fades. I am tracking whether price returns below 154.70, because I view that level as the origin of the last impulsive move. I am considering renewed selling if price consolidates under 152.40 later in the session. I am aligning my session logic with structure, expecting continuation unless the market proves otherwise. I am keeping my bias bearish while price remains under 155.00, and I am letting structure, not hope, guide my decisions.