Yen Finds Support at 152.00, Targets 155.00 Resistance

Last week, the Japanese yen retraced back to the 152.00 psychological resistance level it broke, completing a retest. From there, it received a rebound of approximately 200 pips. The first potential support level where the price could find support remains at 152.00. If this area is breached, there is a high likelihood of further selling pressure deepening. In case of short-term fluctuations dipping below 152.00, the initial support to monitor would likely be at the 151.00 level. If this level is also breached, 149.60 emerges as both channel support and horizontal support. On the upside continuation, the psychological resistance level of 155.00 comes into play. Above this level, the 156.40 level would be monitored as the channel midpoint. Sustaining above 156.40 could lead to a target of 158.00.