USD/JPY tests MA (200) H1

Today, the hourly chart of the USD/JPY pair shows an upward reversal after a steady downward movement, which ended in the support area of 139.90. After reaching this level, steady growth began, during which the price overcame the resistance level of 141.55 and the MA (200) H1 moving average, which is a strong signal of a possible trend change or at least the formation of a deep correction. The maximum of the recovery movement occurred in the area of 143.60, after which the pair began to adjust downwards and is currently trading around 142.40, slightly above the moving average. This may indicate consolidation ahead of the next possible impulse. The MACD indicator remains in the positive zone, but the histogram has begun to decline, indicating a weakening of the bullish momentum. If downward pressure persists, the key support level remains the 141.55 zone, from which a sharp increase began earlier. Its breakdown may lead to a deepening correction in the direction of 139.90. On the other hand, if buyers become active again and the price manages to gain a foothold above 143.60, the next target may be to test the level of 144.25. In general, the current position of the pair indicates a pause in the upward movement, with a possible attempt to recover after a local correction.

Resistance levels are: 143.60, 144.25, 147.15

Support levels are: 141.55, 139.90, 139.60

The main scenario for the pair's advance implies a breakout of the support of 141.55 (April 23 low) and there may be a decline to 139.90 (April 22 low) 

An alternative scenario assumes a breakout of the resistance of 143.60 (April 23 low) and there may be an increase to 144.25 (high of the American session on April 11)