USD/JPY shows steady upward movement

On the hourly chart, the USD/JPY pair shows a steady upward movement after breaking through the 145.20 level and consolidating above the MA (200) H1 moving average. A steady bullish momentum is forming, supported by an increase in volume on the MACD indicator, which shows a steady increase in the histogram in the positive zone. The current price is around 146.50, which indicates an approach to the next important resistance level of 148.05. Up to this level, the price may encounter intermediate resistance at around 146.85, however, if the current dynamics continue, the momentum may be strong enough to overcome it. The support has now shifted to the 145.80 level, and as long as the price is above this level, the prevailing movement remains upward. In the event of a pullback, this level will be the key to assessing the persistence of the bullish scenario. The overall picture indicates the dominance of buyers and a high probability of continued growth in the short term.

Resistance levels are: 148.05, 148.70, 150.45

Support levels are: 145.80, 145.20, 144.25

The main scenario for the pair's progress suggests an increase to 148.05 (June 23 high) and then maybe to 148.70 (May 12 high).

An alternative scenario suggests a breakout of the session low of 145.80 and there may be a decline to 145.20 (July 4 low)