The USD/JPY pair has reached levels not seen since January 1990, currently trading at ¥154.85. This is close to the important ¥155.00 mark, where the Bank of Japan (BoJ) may step in to intervene.
There is still upward pressure on the pair as long as the low from Friday at ¥153.60 holds. If this level is broken, we could see a return to the 12 April low at ¥152.60 and the ¥151.97-91 range. Traders will be keeping a close eye on these key levels in the coming sessions.