USD/JPY shows a moderate upward movement

The hourly chart of the USD/JPY pair shows a steady recovery after the previous correction. The price broke through the MA (200) H1 moving average from the bottom up, which signals a transition to an upward phase. Current quotes are holding above the level of 145.80, remaining near the local resistance of 147.20. The MACD indicator is in a positive zone, but the histogram is starting to decline, indicating a possible slowdown in bullish momentum or correction. If buyers maintain control and the pair overcomes the 147.20 level, the 148.05 zone may be the next benchmark. In case of a decline, the key support remains the level of 145.80, the breakdown of which may lead to a deepening of the pullback in the direction of 145.25 and 144.20. The overall technical picture remains positive at the moment, provided the price remains above the moving average.

Resistance levels are: 147.20, 148.05, 148.70

Support levels are: 145.80, 145.25, 144.20

The main scenario for the pair's advance suggests a breakout of the session high of 147.20 and there may be an increase to 148.05 (June 23 high) 

An alternative scenario suggests a breakout of the support 145.80 (July 8 low) and a possible decline to 145.25 (July 4 low)