• USD/JPY declined on Tuesday as the U.S. dollar pulled back following last week's strong rally.
• The greenback has risen over 2% this month, driven by lowered expectations of large Federal Reserve rate cuts and concerns over President-elect Trump's tariff policies.
• At GMT 08:49,the dollar was down 0.68% at 153.65 against Japanese yen ,its lowest level since 11th November.
•Technical signals are bearish as RSI is heading down at 46, daily momentum studies 5, 9 and 1 DMAs are trending down.
• Immediate resistance is located at 153.83 (38.2%fib), any close above will push the pair towards 154.65 (Daily high).
•Support is seen at 153.29 (SMA 29) and break below could take the pair towards 152.10(23.6%fib).
Recommendation: Good to sell around 153.80, with stop loss of 154.60 and target price of 152.80
