USD/JPY Faces Bearish Pressure as it Drops Below 153.00 Level

The USD/JPY pair continued its downward trajectory for the fourth consecutive session, reflecting sustained bearish momentum in the forex market. The pair is currently trading below the psychological level of 153.00, hovering near its lowest point in two weeks. Technical indicators suggest that sellers remain in control as the price approaches the critical 200-day Exponential Moving Average (EMA). This sustained decline highlights a shift in market sentiment, with the 153.00 mark now acting as a significant resistance point. Traders are closely monitoring the 200-day EMA, which serves as the next major support zone for the currency pair. Failure to hold above current support levels could lead to further depreciation of the US Dollar against the Japanese Yen in the short term.