The USD/JPY pair is at risk of breaking below the key support level of 152.00 following the release of the Non-Farm Payrolls (NFP) report. In a recent video analysis, experts are predicting a potential breakdown in the currency pair as economic data continues to impact market sentiment.
The NFP report, which measures the number of jobs added or lost in the US economy, is a highly anticipated release that can have a significant impact on the value of the USD/JPY pair. A stronger-than-expected report can boost the US dollar and drive the pair higher, while a weaker-than-expected report can lead to a selloff in the pair.
In the video analysis, experts are pointing to signs of weakness in the USD/JPY pair, including a potential bearish divergence in the MACD indicator and a failure to break above key resistance levels. If the pair breaks below the 152.00 support level, it could open the door for further downside potential.
Traders are advised to keep a close eye on economic data releases and geopolitical events that could impact the USD/JPY pair. With the potential for a breakdown looming, it is important for traders to have a solid risk management strategy in place to protect their positions.