Hello dear friends, let's discuss and devise our strategy for the new day together!
USD/JPY is witnessing a decline, fluctuating near the 151.00 level, as the Japanese Yen faces significant buying pressure amidst concerns about Japan's potential forex intervention, especially after this exchange rate reached a new high since the beginning of the year at 151.86 last Friday. Minutes from the Bank of Japan's meeting in January further weakened the USD/JPY pair.
From a technical perspective, if USD/JPY continues to trade below the marked resistance level, it may still face pressure and potentially decline further.