USDJPY : Bears occupy the upper hand

FX:USDJPY   U.S. Dollar / Japanese Yen
Today, the USDJPY is trading around the 150.30 mark, showing little variation from its position at the same time yesterday.

In this context, the Japanese Yen remains on the defensive amidst the Bank of Japan's (BoJ) policy uncertainties. Japan's flash PMI indices have not made a significant impact on the JPY's upward trend nor provided any substantial support. Concerns about potential interventions are limiting further losses as USD price actions soften.

From a technical analysis perspective: USDJPY has broken its strong bullish streak and is now moving sideways with a slight downward trend. The 149.83 support level is currently upholding the pair. A break below this level could lead USD/JPY to retest the 149.13 support, followed by the key support at 148.100.

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