USD/JPY rose above MA (200) H1

Today, on the hourly chart, USD/JPY is showing a recovery after a pronounced decline observed since mid-April. The price confidently turned around from the level of 139.90 and broke through the key resistances at the levels of 141.55 and 142.30. Currently, the quote has consolidated above 143.00 and is trading near 143.30, slightly below the local maximum of 143.85, which now acts as the nearest resistance.

The MA (200) H1 moving average, which was previously heading down, has been broken up and is now under the price, confirming the change of the short-term trend to an upward one. This increases the likelihood of further growth if the 143.85 level is overcome. The MACD is in a positive zone, which confirms the presence of an upward momentum. The histogram shows a weakening of bullish dynamics, which may indicate a possible short-term correction or consolidation near current levels. In general, the technical picture indicates a predominance of bulls with a possible short-term pause or correction before a new upward impulse.

Resistance levels are: 143.85, 145.15, 147.15

Support levels are: 142.30, 141.55, 139.90

The main scenario for the pair's advance implies a breakout of the session high of 14.85 and there may be an increase to 145.15 (high of the American session on April 10) 

An alternative scenario assumes a breakout of the support of 142.30 (April 24 low, MA (200) H1) and there may be a decline to 141.55 (April 23 low)