USD/JPY remains under pressure

On the hourly chart, the USD/JPY pair shows a steady decline after an unsuccessful attempt to gain a foothold above the level of 148.05. Since then, the price has been steadily moving down, forming a sequence of lowered highs and lows. Currently, the quote is trading around 142.80, having broken through the key support of 143.95, which reinforces the bearish sentiment. The MA (200) H1 moving average is directed downwards and is located significantly above the current price, which confirms the dominance of the downtrend. The MACD indicator is in the negative zone, with an expanding red histogram and a downward divergence, indicating increased selling pressure. The immediate target for further decline is in the area of 142.40-50, while with an upward pullback, the first resistance zone is the level of 143.95. The overall technical picture indicates the continuation of a downward trend with the priority of selling on pullbacks.

Resistance levels are: 143.95, 144.95, 145.95

Support levels are: 142.40, 142.10, 141.50

The main scenario for the pair's advance suggests a decline to 142.40 (June 3 low) and there may be a decline to 142.10 (May 27 low).

An alternative scenario suggests an increase to the seasonal maximum of 143.95 and then, perhaps, to 144.95 (June 27 high).