While USD/JPY has been on a major bullish run since the beginning of the year, it has trended lower in recent days following several unsuccessful attempts at clearing overhead resistance in the 152.00 region.
After the latest pullback, which has been accelerated by falling U.S. yields, the pair has arrived at the doorsteps of an important floor near 147.25. The integrity of this technical area is vital; failure to maintain it could trigger a drop towards channel support at 146.00. On further weakness, attention shifts to 144.50.
