The NKD Nikkei/USD Futures daily chart shows a notable shift in short- and intermediate-term momentum, with both the swing pivot trend and weekly session fib grid (WSFG) indicating a downtrend. Price has recently broken below key short-term moving averages (5, 10, 20, and 55 day), all of which are trending down, confirming the bearish tone in the short to intermediate horizon. The most recent swing pivot is a new low at 48,335, with the next potential reversal level at 50,675, and resistance levels stacked above at 50,675, 51,800, and 52,750. Support is found at 48,335 and further below at 45,320 and 44,360. Despite the current pullback, the longer-term structure remains bullish, as both the 100-day and 200-day moving averages are still trending up and price remains well above these levels. The monthly and yearly session fib grids (MSFG and YSFG) also show price above their respective NTZ/F0% levels, supporting the underlying uptrend on a broader time frame. ATR and volume metrics suggest moderate volatility and steady participation. Recent trade signals have triggered short entries, aligning with the current short-term and intermediate-term downtrends. Overall, the market is experiencing a corrective phase within a larger bullish context, with the potential for further downside in the near term before any resumption of the primary uptrend.