Japanese Yen Continues Downward Trend Despite BOJ Intervention

The Japanese yen's downward trend since reaching 152.00 continues despite the Bank of Japan's efforts to control the exchange rate and officials' statements. Even after the BOJ sold $60 billion, the yen's decline persists, and the pair has breached the psychological resistance level of 155.00. Now, the first support level to watch after this level is below this area, with the 153.90-154.00 range. If this area proves insufficient to hold the price, the next point to monitor is the channel's lower band at 152.70. If the corrective movement in the pair continues, the first resistance level encountered will be at 156.00. Breaking through this area, the pair will face the 157.00 resistance, with the next target being 158.00.