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USD/JPY rebounds from key support level
USD/JPY is currently trading at 154.84, after opening at 153.944 and reaching an intraday high of 155.214. The pair found support at 153.616, with the 9-day moving average at 155.296 providing resistance.
The market is closely watching recent geopolitical tensions and mixed economic data from both the US and Japan, contributing to current volatility. Traders are also considering the Bank of Japan's policy stance, which remains accommodative compared to the Fed's more hawkish approach.
USD/JPY's price action suggests a rebound from the key support level at 151.854, with the pair now testing resistance at the 9-day moving average. Traders should monitor key economic indicators and central bank announcements that could influence the pair's direction.
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