The USD/JPY pair extended its decline for the second consecutive day, trading around 156.90 yen during European hours on Monday, according to FX Street. This marks a further slide from the 157.00 yen level observed earlier as the pair remains under pressure.
The pair is also seen hovering near its nine-day exponential moving average, indicating continued bearish momentum in the short term. Market participants are closely watching this technical level for signs of potential support or further weakness.
For Japanese investors, the sustained depreciation of the dollar against the yen could influence export-driven equity markets and foreign exchange strategies, especially amid ongoing global economic uncertainties.