FX.co ★ USDJPY, H4 | Reversal from 50.0% Fibonacci retracement

The USD/JPY chart is currently exhibiting a bullish overall momentum, indicating that the price may potentially continue to rise towards the 1st resistance level.

The 1st support level is at 133.73 and may provide potential support for the price if it were to drop. This level is an overlap support and coincides with the 50% Fibonacci retracement.

The next potential support level is at 132.4190, which is also an overlap support and may provide additional support for the price if it were to drop further.

On the other hand, if the price were to rise, the 1st resistance level is at 135.11. This level is an overlap resistance and may provide potential resistance for the price if it were to rise.

If the price were to break above the 1st resistance level, the next potential resistance level is at 135.98. This level is also an overlap resistance and coincides with the -27% Fibonacci expansion, making it a strong level for potential resistance.