The USD/JPY currency pair has been on a downtrend, dropping 0.49% recently, possibly due to a Bank of Japan intervention. A bearish harami pattern has been observed, indicating a potential recovery if the pair can break through the 153.00 resistance level. Key support is at 152.00, with further declines possibly targeting April’s low of 150.81.
The USD/JPY has experienced losses of over 3.40% in the past week following suspected intervention by the Bank of Japan. A bearish harami pattern has formed, suggesting a downward trend. The pair is currently trading at 152.93.
Despite recent losses, the USD/JPY remains upward biased according to technical analysis. If the pair can break above 153.00, it may see further gains towards resistance levels at 153.35 and 154.00. On the other hand, a breach of support at 152.00 could lead to a drop towards April’s low of 150.81.
Overall, the USD/JPY is facing a challenging market environment, with potential for both further declines and a recovery if key resistance levels are breached.