USD/JPY rose to a monthly high

There is a steady uptrend on the USD/JPY hourly chart today. After consolidating around the level of 143.45, the price began a steady upward movement, breaking through several significant resistance levels - 144.85 and 146.20. At the moment, the price has reached a monthly high and has come close to the resistance of 148.587, demonstrating an impulsive acceleration. The MACD indicator confirms the strength of the current bullish momentum: the histogram is growing, the values are significantly above zero, which indicates the dominance of buyers. The MACD lines and the signal line are also in a bullish position — the fast line is higher than the slow one. This indicates continued growth, at least in the short term. In general, as long as the price remains above the moving average of MA (200) H1 and remains above the level of 144.30, the priority remains for purchases.

Resistance levels are: 148.60, 150.45, 151.25

Support levels are: 146.20, 144.85, 143.45

The main scenario for the pair's advance assumes a session high of 148.60 and there may be an increase to 150.45 (April 2 high)

An alternative scenario suggests a decline to 146.20 (May 8-9 high) and then maybe to 144.85 (May 9 low)