FX.co ★ USDJPY, H4 | Bounce off support level?

The USD/JPY chart displays bullish momentum. There's a likelihood the price will rebound from the 1st support level at 145.09, which is crucial due to its overlap status and its confluence with 23.60% and 61.80% Fibonacci levels. The 2nd support level at 143.85 is underpinned by a 50% Fibonacci Retracement. Conversely, the 1st resistance at 146.52, representing a swing high, may hinder upward progression.