Is the 144 level becoming a key battleground for positioning?

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The USD/JPY exchange rate has staged a mild rebound for the second consecutive day, though it remained capped below the 144.00 level during the European session. Despite short-term signs of stabilization, the pair remains broadly pressured by a dual combination of fundamental expectations and technical resistance. Persistently constrained by selling pressure above 144.00 and failing to achieve a volume-supported breakout, the exchange rate is expected to continue trading within a range-bound consolidation between 142.00 and 144.80. Focus remains on the multi-empty battles in the 143.40 and 142.30 zones.

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