USDJPY: Bearish Pressure Builds Below 157.97 Pivot

In this comprehensive analysis, Ultima Markets brings you an insightful breakdown of USDJPY for October 30, 2026.

Technical Analysis of USDJPY

USDJPY Daily Chart Insight

(USDJPY Daily Chart, Source: Ultima Markets MT5)

USDJPY continues to face bearish pressure on the daily timeframe, with its recovery from September’s lows struggling to establish a sustained upward trend. Following the sharp decline from July’s highs, the pair has entered a broader consolidation phase, with recent attempts to advance toward 158.55 repeatedly encountering selling interest. Price is currently trading around 157.35, below the red 16-period moving average (MA16) and marginally beneath the purple 50-period moving average (MA50). Meanwhile, the blue 100-period moving average (MA100) remains elevated near 159.11, maintaining a downward slope that reinforces the broader corrective structure.

The flattening MA50 and weakening MA16 suggest that bullish momentum has faded, while the daily RSI at 46.48 indicates a modest bearish bias. Although the pair has recovered from September’s lows, sellers retain a slight advantage as long as price remains below the 157.98–158.55 resistance region. A sustained recovery above this area would be required to restore bullish momentum, while continued rejection could expose the lower support levels.

Key Levels:

• Support 1 (156.85): Immediate support near recent daily reaction lows, where buyers previously attempted to stabilise the decline.
• Support 2 (156.29): A secondary support area corresponding to the late-October pullback low, which could become relevant if selling pressure intensifies.
• Support 3 (152.90–153.46): A major support zone established during September’s sharp selloff, representing the broader recovery’s foundation.
• Resistance 1 (157.98): Immediate resistance near the red MA16, where recent price advances have encountered renewed selling pressure.
• Resistance 2 (158.55): A significant resistance area marked by repeated October highs, with a sustained breakout needed to strengthen the bullish outlook.
• Resistance 3 (159.11): Higher resistance near the declining blue MA100, which remains a major obstacle to a broader trend recovery.

USDJPY 2-Hour Chart Analysis

(USDJPY 2-Hour Chart, Source: Ultima Markets MT5)

USDJPY has shifted toward a bearish short-term structure on the 2-hour chart, following its failure to sustain the recent recovery above 158.00. The latest decline has pushed price toward 157.33, below the red 16-period moving average (MA16), purple 50-period moving average (MA50), and blue 100-period moving average (MA100). The red MA16 has turned downward, while the rising purple MA50 and relatively flat blue MA100 are converging near 157.68, creating an immediate resistance area.

This breakdown below the moving-average cluster suggests that sellers are regaining short-term control after several sessions of consolidation. Meanwhile, the RSI has declined to 35.62, reflecting weakening buying momentum without yet reaching oversold territory. Unless price recovers above the moving averages, further downside pressure could develop, although a temporary stabilisation remains possible following the recent sharp decline.

Breakout Scenarios:

• Bullish continuation is a possible scenario, triggered by a decisive break and hold above 157.96, following a recovery through the 157.68–157.82 moving-average resistance region. Such a move could allow buyers to challenge 158.10, followed by the recent swing-high area around 158.24–158.38.
• Bearish correction is a possible scenario, triggered by a sustained breakdown below 157.26, confirming that sellers remain in control. This could expose the next support near 157.12, followed by the previous reaction area around 156.84–156.70.

USDJPY Pivot Indicator

(USDJPY 30-Minute Chart, Source: Trading Central)

USDJPY maintains a bearish intraday bias on the 30-minute chart, with price trading around 157.67, below the key pivot resistance at 157.97. The pair has recently slipped beneath its short-term moving averages, indicating that selling pressure is strengthening after an unsuccessful attempt to maintain its earlier recovery.

The RSI has weakened to approximately 35.96, reflecting deteriorating bullish momentum, while the MACD remains in negative territory near -0.05, supporting the downside outlook. With price holding below the pivot and momentum indicators leaning bearish, the immediate focus remains on whether sellers can extend the decline toward the next support levels.

• Bearish Breakdown: As long as USDJPY remains below the 157.97 pivot, the bearish preference remains intact. Continued selling pressure could drive price toward the first downside target at 157.30, followed by 157.13 if the initial support fails. An RSI remaining weak near 35.96 and a MACD holding below its signal line in negative territory would reinforce the bearish scenario.
• Bullish Reversal: A decisive recovery and sustained break above 157.97 would be required to invalidate the immediate bearish outlook. Such a breakout could open the way toward the first upside target at 158.26, followed by 158.42 if buying momentum strengthens. Confirmation would come from a sustained RSI rebound from its current depressed reading, accompanied by a bullish MACD crossover and improving momentum toward positive territory.

Disclaimer Comments, news, research, analysis, price, and all information contained in the article only serve as general information for readers and do not suggest any advice. Ultima Markets has taken reasonable measures to provide up-to-date information, but cannot guarantee accuracy, and may modify without notice. Ultima Markets will not be responsible for any loss incurred due to the application of the information provided.