USD/JPY rebounds to 153.5, down 0.2% in 24 hours

The rebound to 153.5 appears technical within a broader downtrend, with the pair still down on the day. This suggests persistent selling pressure rather than a reversal, likely tied to ongoing volatility in risk assets. The key question is whether the 153.5 level holds as resistance or if further declines test lower supports, which would signal sustained yen strength. For crypto and RWA markets, a weaker dollar typically supports risk-on sentiment, so the yen's resilience could be a proxy for broader market caution.