USD/JPY Tumbles as Bearish Bias Takes Hold

The USD/JPY currency pair is off to a rocky start this week, still reeling from last week's sharp drop.

The pair has been volatile since the US jobs report on Friday, which sparked some initial buying in the dollar but ultimately led to a whipsaw, with prices fluctuating between 156.75 and 155.35 in just half an hour.

Despite dip buyers attempting to buoy the market, technical indicators suggest a bearish bias, with prices holding below both the 100-day and 200-day moving averages.

The key support level of 155.50 is still intact, but if prices break below 155.00, sellers could gain momentum and target lows near 152.25.