USD/JPY has experienced a steady decline after carving out a lower high at 158.85 than the one achieved in 2024 at 162, BBH's FX analysts report.

Next potential supports might be at 147/146.85 and 145

"It recently gave up the 200-DMA and is now challenging December trough of 148.60, which is an interim support. Daily MACD has dipped below equilibrium line after posting negative divergence denoting prevalence of downward momentum."

"If a short-term bounce develops, the Moving Average at 152.50 could provide resistance. Inability to overcome 152.50 can lead to continuation in decline. Next potential supports could be located at projections of 147/146.85 and 145."