USD/JPY shows an upward movement

On the hourly chart, the USD/JPY pair is showing an upward movement after a confident breakdown above the MA (200) H1 moving average, which indicates that the initiative is shifting to the side of the bulls. Quotes have stabilized above the level of 145.25 and are currently trading near the resistance of 147.20, while maintaining the potential for further growth to 148.05. The MACD indicator has moved into a positive zone and shows a bullish divergence, supporting a short-term growth momentum. However, consolidation is observed in the 147.20 zone, and a pullback to the nearest support of 145.75 is possible in case of profit-taking. The overall technical picture indicates the predominance of an uptrend, with key support located around 145.25. A steady consolidation above 147.20 will pave the way to the next resistance level near 148.05.

Resistance levels are: 147.20, 148.05, 148.50

Support levels are: 145.75, 145.25, 144.20

The main scenario for the pair's advance suggests a breakout of the session high of 147.20 (July 9 high), and there may be an increase to 148.05 (June 23 high)

An alternative scenario suggests a breakout of the support 145.75 (July 10 low) and there may be a decline to 145.25 (July 4 low)