USD/JPY extends decline below 152.00 on persistent bearish momentum

USD/JPY continued its downward trajectory, falling 0.4% to 151.80 as bearish sentiment intensifies ahead of the Bank of Japan's policy decision. The pair has now declined over 3% from last week's highs near 157.00, with selling pressure accelerating after breaking below the key 153.00 support level. Market positioning data shows speculative shorts on the yen have been unwinding rapidly, contributing to JPY strength across the board. Technical indicators remain firmly bearish, with the RSI at 35 signaling oversold conditions that could prompt a brief consolidation. Immediate support lies at 151.50 (November low), while resistance has formed at 152.50 (former support turned resistance). The BoJ's stance on potential rate adjustments and any hints about ending negative rates could trigger significant volatility, with a hawkish surprise potentially accelerating USD/JPY's decline toward the 150.00 psychological level.