USD/JPY Price Forecast: Resistance at 155.20 likely to test bulls
The Japanese Yen (JPY) is showing a moderately softer tone against the US Dollar (USD) this week, with all eyes on the monetary policy decisions bu¡y the US Federal Reserve (Fed) and the Bank of Japan (BoJ), due later this week.
USD/JPY pair near 155.00, with resistance at 155.20 likely to challenge US Dollar bulls. The pair is showing a bearish near-term bias, with momentum indicators remaining in bearish territory and the RSI at 37.70. If the 155.20 level breaks, the next targets are 156.75 and the 200-day SMA at 158.40.
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