USD/JPY is notably on the week side heading into a new trading week, with the pair pinned on the south side of the 147.00 handle heading into the early Tuesday session. The pair is down over 2.5% from March’s peak bids near 150.70, with February’s all-time highs at 150.88.
Last week accelerated into the bearish side, extending a technical drag down the chart paper after the previous week snapped an eight-week winning streak. USD/JPY has closed flat or in the green for eight consecutive weeks, but now the pair is getting dragged back into bear country. The last meaningful technical floor sits at the last swing low into the 146.00 handle, with the 200-day Simple Moving Average (SMA) rising into 146.22
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