USD/JPY picks up to the 153.25, but maintains a strong bearish bias

💡 DMK Insight

The USD’s bounce from 11-day lows against the JPY signals potential volatility ahead. Trading at 153.25, this level is crucial for day traders and swing traders alike. If the USD can hold above this mark, it might indicate a bullish trend, especially if we see a break above 153.50. On the flip side, if it retraces back below 152.80, we could see a wave of selling pressure. Keep an eye on broader economic indicators, like upcoming US employment data, which could further influence the USD/JPY pair. Additionally, watch for reactions from the Bank of Japan, as any shifts in their monetary policy could create ripple effects across the forex market, impacting other pairs like EUR/JPY and AUD/JPY as well. Traders should monitor the 153.50 resistance level closely, as a breakout could lead to a stronger USD rally, while a drop below 152.80 might trigger a bearish sentiment.