USD/JPY: Bearish momentum intact, next support aligns at 146.80 – OCBC

USD/JPY slipped below 147. Next relevant support is located at the 21-Day Moving Average (DMA) of 146.80, analysts at OCBC Bank report.

Intervention risks linger ahead of the BoJ meeting

“Bearish momentum on daily chart intact while decline in RSI moderated.”

“Expect range-bound trade, driven by USD directional bias.”

“Support at 146.80 (21 DMA), 146 levels. Resistance at 149.90, 152.”

“FX intervention risks should continue to linger ahead of the Bank of Japan MPC on Friday.”

See: USD/JPY to remain elevated while BoJ Governor Kuroda is in charge – Credit Suisse