USDJPY has been under pressure since yesterday but found buyers near the 144.40–144.52 zone—a key support area that held during the most recent tumble (see renumbered circles from 2024). A break below this level would have shifted the bias more decisively to the downside, but for now, buyers have stepped in and stalled the fall.

The rebound took the pair back up toward 146.534—the former 2025 low from March 11 and a prior swing high from September 27, 2024. Sellers leaned against that level, and in doing so, helped define the battle lines for the pair.

At this point, price is caught in a range:

Until there’s a break outside this range, the pair remains in balance—but with sellers holding a slight edge, and buyers trying to defend a well-watched support zone.