USD/JPY remains below MA (200) H1

Today, the USD/JPY pair is experiencing a steady downward trend on the hourly chart. The price is below the MA (200) H1 moving average (146.10), which confirms the bearish market sentiment. After the formation of a local maximum in the area of 151.20, a systematic decline began, accompanied by pullbacks. Each new high is lower than the previous one, which indicates the weakness of buyers. Currently, the price is consolidating in the range between the support levels of 142.05 and resistance levels of 144.20. The MACD indicator is in the negative zone, which also indicates the predominance of sellers. Although there are short-term reversal attempts, the histogram remains mostly below the zero line, and the intersections of the signal lines do not show sustained bullish momentum. In the event of a breakdown of the support level of 142.05, we can expect a further decline with a possible target around 140.50. To confirm the upward reversal, it is necessary to firmly consolidate the price above 144.20 and break through 146.10, which will be the first signal for a change in the medium-term trend. For now, the priority of trading downwards remains when approaching resistance levels.

Resistance levels are: 144.20, 146.10, 148.30

Support levels are:  142.05, 141.65, 140.30

The main scenario for the pair's advance implies a breakout of support at 142.05 (April 11 low) and a possible decline to 141.65 (Sep 30 low) 

The alternative scenario assumes a breakout of the resistance of 144.20 (high of the American session on April 11), an increase to MA (200) H1 (146.10) and there may be an increase to 148.30 (April 9 high)