USD/JPY Pauses Rally Amid BoJ Intervention: Key Levels to Watch

Following the intervention by the Bank of Japan at the 160 level, the rally in USD/JPY, which had been ongoing since 152, took a pause, with the Japanese Yen gaining strength for the third consecutive day. Benefiting from the market's perception of the Federal Reserve's interest rate decision and subsequent statements as dovish, the dollar weakened in the pair. The initial significant support for the pair is noted at 152. Given that this level initiated a significant trend breakout, its breach could be interpreted as a retest movement. If the price falls below this level, the next levels to watch are 150.70 and 149.60. On the upside, the initial resistance level is at 155. A break above this level could lead to resistance at 156.40 and 157.35.

Resistance 3	Resistance 2	Resistance 1	Support 1	Support 2	Support 3
157.35	156.40	155.00	152.00	150.70	149.60