FX.co ★ USDJPY, H4 | Fluctuate between 1st support and resistance?

The USD/JPY chart shows bearish momentum, indicating a downward trend.

There is potential for a bearish reaction from the first resistance at 140.23, with a possible decline towards the first support at 138.79.

The first support is an overlap support, while the second support at 137.71 coincides with the 50% Fibonacci retracement.

The first resistance at 140.23 is a significant multi-swing high resistance.

An intermediate resistance at 140.91 adds to its importance as a swing high resistance.

Overall, the chart's bearish momentum suggests a downward bias, and the identified support and resistance levels provide areas to monitor for potential price movements.