USD/JPY is trading below MA (200) H1

Today, on the hourly chart, USD/JPY is showing a steady downward trend, which is confirmed by the consistent formation of lowered highs and lows, as well as the confident location of the price below the moving average of MA (200) H1. After falling to the support zone of 142.25, quotes are trying to form a corrective pullback upward, but the movement meets resistance in the area of 143.10, where it was previously observed sellers' reaction. The 143.10 level acts as the nearest barrier for further recovery, and its breakdown may open the way to 144.40, where an important medium-term resistance is located. In the case of a downward pullback, the 142.25 zone remains the key benchmark, the breakdown of which will increase the pressure and may lead to a deepening of the downward movement. The MACD shows an initial increase in the histogram, signaling a decrease in the rate of decline and a likely short-term stabilization. However, as long as this signal remains limited in strength and is not accompanied by a breakdown of key levels, there is no need to talk about a reversal.

Resistance levels are: 143.10, 144.40-60, 145.55

Support levels are: 142.25, 141.95, 141.50

The main scenario for the pair's advance suggests a breakout of the session low of 142.25 and a possible decline to 141.95 (April 28-29 low)

An alternative scenario assumes a breakout of the session high of 143.10 and there may be an increase to 144.40-60 (May 21 high, MA (200) H1)