The USD/JPY currency pair is showing signs of weakness as it trades defensively at the week's open. Currently, the exchange rate hovers above the critical support level of 154.50. Despite this, bullish sentiment remains intact, driven by the Bank of Japan's (BoJ) hawkish stance, which has empowered JPY bulls to regain some control in the market.
As market participants assess the implications of the BoJ's signals, USD/JPY's momentum is waning. If the pair fails to hold above 154.50, it could lead to increased selling pressure. Traders will be closely monitoring the evolving dynamics between the U.S. dollar and the Japanese yen, with potential volatility on the horizon as economic data releases unfold later in the week.
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Data Source: FX Killer Analysis Team Updated: 2025-12-01 18:33
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.