USDJPY, in contrast to other competitors, continuously plunged and missed the target of 152.00 when the USD declined sharply last week. The downward momentum continued until the beginning of the week today and the price is approaching the support level of 148.48, down 0.42% on the day.
If the price continues to decline and breaks through the support level of 148.48, there is a high possibility that the price drop will continue to reach lower prices at 147.00 as the pair faces challenges, mainly affected by the negative phase. soft risk tone in the market. The possibility of the US Federal Reserve (Fed) not raising interest rates after a series of upbeat economic data from the US has contributed to the general bearish sentiment of USD/JPY.
If the price continues to decline and breaks through the support level of 148.48, there is a high possibility that the price drop will continue to reach lower prices at 147.00 as the pair faces challenges, mainly affected by the negative phase. soft risk tone in the market. The possibility of the US Federal Reserve (Fed) not raising interest rates after a series of upbeat economic data from the US has contributed to the general bearish sentiment of USD/JPY.
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