USD/JPY tests MA (200) H1

Today, the hourly chart of USD/JPY shows a recovery after the recent decline. The price has confidently rebounded from the support area around 141.55–95 and is trading above this zone, around 142.70. This indicates that there is demand in this area, which now acts as an important support area.

The price overcame the MA (200) H1 moving average (1.47.30), but then dropped lower, and now it is trying to gain a foothold higher again. This indicates uncertainty and the possible consolidation nature of the movement. The MACD indicator shows a transition from negative to positive values, the histogram has turned green and is growing, indicating increasing bullish pressure and a possible continuation of corrective growth.

Resistance levels are: 144.05, 145.15, 147.15

Support levels are: 141.95, 141.55, 139.90

The main scenario for the pair's advance implies a breakout of the resistance of 144.05 (April 25 high) 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 141.95 (April 28 low) and there may be a decline to 141.55 (April 23 low)