USDJPY extends its sharp decline into a third consecutive day, breaking a key support level

USDJPY remains in a steep decline for a third straight day, falling nearly 4% amid speculation that intervention may be contributing to the move, alongside rising safe-haven demand and month-end flows.

The downside extended further on Tuesday, breaking key support levels at 153.62 (the base of the thick ascending daily Ichimoku cloud and the 100 DMA) and breaching the 50% Fibonacci retracement of the 146.58/159.45 uptrend at 153.01.

Daily technical indicators show strong negative momentum, with moving averages positioned above the price and turning downward, reinforcing the bearish trend.

The broken cloud base and 100 DMA have now turned into significant resistance, which should help cap any rebound and keep bearish pressure intact. A firm break below 153.01 would open the way to targets at 151.50 (Fibonacci 61.8%) and 150.20/150.00 (bullish trendline and psychological level) in an extended move.

Res: 153.62; 154.00; 154.53; 155.61
Sup: 152.15; 151.50; 150.20; 150.00