USD/JPY remains above MA (200) H1

USD/JPY is showing a steady uptrend on the hourly chart today. The price is confidently holding above the MA (200) H1 moving average, which confirms the presence of an uptrend. After a sharp upward impulse, a correction phase is observed, which may be a temporary stop before a possible continuation of growth. The support level is now 147.65, which was previously broken through and confirmed as a support after the pullback.

The MACD indicator is in the positive zone, the histogram indicates a weakening of the upward momentum, but so far the positive dynamics remains. This may indicate a short-term correction or consolidation before a new attempt at growth. In general, the trend remains upward for now, and bullish sentiment prevails, but the coming hours may be marked by correction or consolidation.

Resistance levels are: 148.70, 150.45, 151.25

Support levels are: 147.65, 146.20, 144.85

The main scenario for the pair's advance assumes a breakout of the resistance of 148.70 (May 12 high) and there may be an increase to 150.45 (April 2 high)

An alternative scenario suggests a breakout of the session low of 147.65, followed by a decline to 146.20 (May 9 high)