FX.co ★ USD/JPY will attempt to test its pivot level, but as long as 148.32 remains strong, it will continue its decline on Tuesday, July 22, 2025.

USD/JPY – Tuesday, July 22, 2025.

USD/JPY bias remains in a bearish condition, but as long as Pivot & Resistance Level 1 can hold the temporary rally, USD/JPY has the potential to continue its decline.

Key Levels

1. Resistance 2: 149.28

2. Resistance 1: 148.32

3. Pivot: 147.71

4. Support 1: 146.75

5. Support 2: 146.14

Tactical Scenario

Pressure Risk Zone: If the price breaks through and closes below 146.75, USD/JPY will continue its decline to 146.14.

Momentum Extension Bias: If the 146.14 level is broken and closes below it, USD/JPY has the potential to continue its decline to 145.18.

Invalidation Level / Bias Revision

The downside bias is maintained if the USD/JPY price strengthens and breaks through and closes above 149.28.

Technical Summary

EMA(50): 147.66.

EMA(200): 148.03.

RSI(14): 50.52.

Economic News Agenda:

USD/JPY has the potential to weaken today, driven by a post-election rebound in Japan and uncertainty surrounding US-Japan tariff negotiations.