USDJPY at risk of breaking down.
The USD/JPY pair has lost its upward momentum and appears poised to break below the ascending channel that has supported its rise since September. A key support level to watch is 151.50, which could serve as the first line of defense in the event of a downside break. It’s important to exercise caution when holding long positions at current levels, as the risk of another Bank of Japan (BoJ) intervention looms large.
The USDJPY might be about to reverse lower.
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