USD/JPY dropped below MA (200) H1

On the hourly chart, the USD/JPY pair shows a downward trend after reaching a peak near the level of 148.05. Since the reversal, there has been a steady decline, accompanied by a breakdown of key support levels. The price has overcome the MA (200) H1 moving average from top to bottom, which confirms the bearish pressure. The 145.25 level, which previously served as support, now acts as resistance. The current quote is 144.30, while the nearest support zone is around 143.65-75. The MACD indicator is in the negative zone and shows a decrease in the histogram, indicating continued selling pressure. If the current momentum continues, the price may test the lower support in the area of 143.65. However, a short-term pullback to the level of 145.25 is possible if buyers try to regain control. The overall structure indicates the advantage of the bears in the short term.

Resistance levels are: 145.25 145.95, 146.30

Support levels are: 143.65-75, 142.80, 142.40

The main scenario for the pair's advance suggests a breakout of the session low of 143.75 and the support of 143.65 (June 16 low) and there may be a decline to 142.80 (June 13 low).

An alternative scenario suggests an increase to the session high and MA (200) H1 (145.25) and then, perhaps, to 145.95 (June 25 high).