So far, USD/JPY is up 0.06% at 151.40 and faces the next resistance at the 2024 peak of 151.86 (March 22) ahead of the 2023 high of 151.90 (November 13) and the 2022 top of 151.94 (October 21. In case bears regain the upper hand, the initial support level is set at March's low of 146.47 (March 8), which is reinforced by the proximity of the key 200-day SMA (146.68). If the pair clears the latter, it could extend the drop to the February low of 145.89 (February 1) seconded by the December 2023 low of 140.24 (December 28).
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