USD/JPY retreats from 148.50 as dollar weakness emerges post-US open

USD/JPY has pulled back from session highs near 148.50, currently trading around 148.00 as US dollar strength fades following the New York equity open. The pair's decline coincides with a stabilization in risk sentiment and a retreat in US Treasury yields across the curve, led by European sovereign bond movements. The current level of 148.00 represents the 50% Fibonacci retracement of the Asian session rally, providing key near-term support. Dollar sellers emerged shortly before the equity open, signaling a shift in intraday momentum. The reversal suggests profit-taking on earlier yen weakness and reflects improved risk appetite as initial market fears subsided. Traders should monitor the 148.00 support level closely, as a break below could accelerate selling toward 147.50, while resistance remains at the earlier high of 148.50.