USDJPY Selloff Accelerates With No Support in Sight

USDJPY continues its dramatic decline, falling another 1.2% to 153.50 as the pair experiences its steepest selloff in months without finding meaningful support. The relentless selling pressure has pushed the pair through multiple technical levels, with the 155.00 psychological support failing to provide any relief. EURUSD has capitalized on dollar weakness, advancing 0.4% to 1.0580, while GBPUSD gained 0.5% to 1.2680. AUDUSD also benefited, rising 0.6% to 0.6520 as risk sentiment improves. The yen's broad strength reflects unwinding of massive short positions built up over recent months, with leveraged funds rushing to cover positions. Technical momentum indicators show extreme oversold conditions, though no signs of stabilization have emerged yet. The next major support for USDJPY lies at 152.00, coinciding with the 200-day moving average, though current momentum suggests this level could be tested soon.