USD/JPY remains above MA (200) H1

Today, the USD/JPY hourly chart shows a strengthening of the uptrend. After the decline in mid-April, the quotes found support in the area of 139.90, from where the steady growth began. The price overcame several resistance levels, in particular the marks of 141.55 and 142.30, and gained a foothold above 143.00. A local maximum was formed around 144.05, after which the pair entered a consolidation phase.

The MA (200) H1 moving average has turned up and continues to serve as support, being in the area of 142.30. This strengthens the positive attitude of the buyers. The MACD indicator shows a decrease in the growth momentum: the histogram is shrinking, signaling a possible correction or slowdown in movement.

The current technical picture indicates the stability of the bullish trend, however, given the weakening dynamics on the MACD and the proximity to local highs, a short-term correction cannot be ruled out. The nearest support levels are at 142.30 and 141.55, in case of further growth, resistance remains in the 144.05 zone.

Resistance levels are: 144.05, 145.15, 147.15

Support levels are: 142.30, 141.55, 139.90

The main scenario for the pair's advance implies a breakout of the resistance of 144.05 (April 25 high) and there may be an increase to 145.15 (high of the American session on April 10)

An alternative scenario assumes a breakout of the support of 142.30 (April 24 low, MA (200) H1) and there may be a decline to 141.55 (April 23 low)