USDJPY Adjusts Under Downward Pressure After Reaching 153.500

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The USDJPY chart shows a strong uptrend after breaking the previous resistance and hitting a peak near 153.500.

Currently, the price is slightly correcting and is likely to test the key support area around 150.700, where the EMA 34 lies.

If the price returns to the breakout zone, there could be a retracement that surpasses the 153.500 resistance.

In any case, attention should be paid to reversal candlestick signals and trading volumes to precisely identify entry points and the next trend.

Regarding news: USDJPY is under downward pressure as the Fed is expected to halt its rate hike cycle, while the BoJ maintains its loose monetary policy, narrowing the yield gap between the two countries.
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