USD/JPY shows corrective growth

On the hourly chart, the USD/JPY pair shows corrective growth after reaching a local low near the level of 142.70. The price broke through short-term resistance around 143.30 and is consolidating above it, approaching the level of 144.95, which also coincides with the MA (200) H1 moving average line, which plays the role of dynamic resistance. As long as the price remains below this average, the overall bearish pressure remains. The MACD indicator shows an upward reversal: the histogram goes into a positive zone, signaling a growing momentum of the bulls. However, a steady consolidation above 144.95 is necessary to confirm the trend change. Otherwise, the growth may be limited and accompanied by a new decline to the nearest support of 143.30, and if it breaks, to the level of 142.70. In the event of a breakdown of 144.95, the next important resistance level will be the 145.95–146.30 zone. The overall picture remains neutral-bearish with signs of a short-term recovery.

Resistance levels are: 144.95, 145.95, 146.30

Support levels are: 143.30, 142.70, 142.10

The main scenario for the pair's advance suggests a decline to the session high of 143.30 and then, perhaps, to 142.70 (July 1 low).

An alternative scenario assumes a breakout of the resistance of 144.95 (June 27 high) and there may be an increase to 145.95 (June 25 high).