USD/JPY is showing a strong upward trend

On the hourly chart, the USD/JPY pair is in a clearly defined uptrend, which has significantly strengthened since the beginning of July. The price is steadily holding above the 200-period moving average (MA 200 H1), which itself shows a strong upward slope, confirming the bullish movement. The pair has consistently broken through key resistance levels such as 145.75, 146.85, and 147.55. Currently, the price is trading around 148.75, near recent highs, with a potential target at 149.20. The MACD indicator remains in positive territory, with a green histogram and upward-sloping lines, indicating strong and sustained bullish momentum. Overall, the outlook points to a continued rise in the USD/JPY pair.

Resistance levels are: 149.20, 150.45, 151.25

Support levels are: 147.55, 146.85, 145.75

The main scenario for the pair suggests a breakout above the resistance at 149.20 (July 16 high), which could lead to further growth toward 150.45 (April 2 high).
The alternative scenario assumes a break below the support at 147.55 (July 15 low), which could trigger a decline toward 146.85 (July 14 low).