Bearish Pressure Mounts on USDJPY After Crucial Support Break

The USDJPY currency pair faces increasing bearish pressure. Recently, it experienced a breakout below the critical support zone positioned between the support level of 148.60, which was the former monthly low from December, and the 50% Fibonacci correction of the upward impulse observed from September. Traders closely monitor these movements as they indicate a potential downward trend.

This situation warrants caution for those trading the USDJPY pair. Current technical indicators highlight the significance of the levels recently breached. A sustained move below these levels could lead to further declines, raising questions about the pair’s future direction.