From a technical perspective, bulls might still wait for sustained strength and acceptance above the 152.00 mark before placing fresh bets. Given that oscillators on the daily chart are holding in the positive territory and are still away from being in the overbought zone, the USD/JPY pair might then resume its uptrend witnessed over the past month or so from the March trough.
On the flip side, the 151.30 horizontal zone now seems to protect the immediate downside ahead of the 151.00 mark. Some follow-through selling will expose Friday's swing low, around the 150.30 region. This is followed by the 150.00 psychological mark, which if broken decisively will shift the near-term bias in favor of bearish traders. The USD/JPY pair might then slide to the 149.35-149.30 region en route to the 149.00 mark
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