USDJPY: Moving Toward Key Support at 150
In the previous analysis, we highlighted an important supply zone around 158, where this currency pair faced resistance, leading to a decline and strengthening of the Japanese yen. A key factor for further decline has been the break of the descending trendline. However, the most crucial confirmation would be the breakdown of the key 150 support level, which would provide greater confidence in short positions. Therefore, for selling opportunities, traders should either wait for a return to the supply zone around 154 or for a break of the 150 support, followed by a pullback entry.
