USD/JPY tests MA (200) H1

The hourly chart of USD/JPY shows consolidation after a sharp decline from the level of 146.30, which is now acting as a key resistance. After reaching a low near 142.80, the price rebounded upward, but failed to gain a foothold above the resistance area of 145.10. Currently, the pair is trading around 144.00, slightly below the 200-period moving average, which indicates a possible continuation of downward pressure.

The MACD indicator is in the negative zone, but it shows an attempt to turn up, which may indicate a short-term weakening of the bearish momentum. However, as long as the price remains below the 200-period average, the risk of continued downward movement remains. In general, the technical picture remains neutral-bearish with a downward bias, provided that the quotes do not return confidently above 144.25–145.10.

Resistance levels are: 144.25, 145.10, 146.30

Support levels are: 143.45, 142.80, 142.10

The main scenario for the pair's advance suggests a breakout of the session high of 144.25 and there may be an increase to 145.10 (May 28 high) and 146.30 (May 29 high)

An alternative scenario suggests a breakout of the session low of 143.45 and a possible decline to 142.80 (May 22 low)