Extends losses on second day near 149.00 psychological level

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<li><strong>USD/JPY hovers around 149.00 psychological level ahead of US Core PCE.</strong></li>
<li><strong>Momentum indicators suggest a potential bullish sentiment in the market.</strong></li>
<li><strong>14-day EMA emerges as the key support, following the 23.6% Fibonacci retracement.</strong></li>
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<p><a href="https://www.fxstreet.com/currencies/usdjpy">USD/JPY</a> extends its losses on the second successive day, trading lower around 149.00 psychological level during the European trading session on Friday.</p>
<p>The pair faces a challenge due to the correction in the US Dollar (USD), which could be attributed to the pullback in the US Treasury yields.</p>
<p>The 14-day Exponential Moving Average (EMA) at 148.36 could act as key support, following the 21-day EMA at 147.87.</p>
<p>A firm break could influence the USD/JPY bears to navigate the area around the 23.6% Fibonacci retracement at 146.76, followed by the 146.00 psychological level.</p>
<p>The current upward momentum in USD/JPY appears to have a bullish bias, given that the 14-day Relative Strength Index (RSI) remains above the 50 level.</p>
<p>However, there is a resistance region around the monthly high at 149.70, followed by the 150.00 psychological level that may pose a challenge for further gains.</p>
<p>The Moving Average Convergence Divergence (MACD) indicator is providing a strong signal for the USD’s buyers. The MACD line lies above the centerline and the signal line. This configuration suggests that there is potentially strong momentum in the USD/JPY’s price movement.</p>
<h3><strong>USD/JPY: Daily Chart</strong></h3>
<p><a href="https://editorial.fxstreet.com/miscelaneous/image-638315756383195258.png" target="_blank" rel="noopener"><img decoding="async" src="https://editorial.fxstreet.com/miscelaneous/image-638315756383195258.png" style="width: 600px; height: 217px;" /></a></p>
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