USD/JPY shows signs of consolidation

On the hourly chart, the USD/JPY pair is showing signs of consolidation after a volatile decline following the achievement of a local maximum around 145.45. In recent sessions, the price has been trading near the 144.00 level, which coincides with the MA (200) H1 moving average area, which acts as the current equilibrium axis. After a corrective rise from the low of June 12 in the area of 142.80, the price met resistance near 144.75 and retreated down, indicating continued selling pressure. The MACD indicator remains in the positive zone, but its histogram decreases, signaling a slowdown in the upward momentum. At the same time, the MACD line is approaching the signal line, which may portend a possible bearish crossover. Support is at 143.85, and its breakdown will open the way to 143.20 and further to 142.80. The overall technical picture indicates a neutral-bearish mood with a possible transition to a decline if the price consolidates below the level of 144.00.

Resistance levels are: 144.75, 145.45, 146.30

Support levels are: 143.80, 143.20, 142.80

The main scenario for the pair's advance involves a breakout of 143.80 (low of the American session on June 13), a decline to 143.20 (June 12 low) and then maybe to 142.80 (June 13 low)

An alternative scenario suggests a breakout of the session high of 144.75 and there may be an increase to 145.45 (maximum on June 11)