FX.co ★ USDJPY, H4 | Falling to overlap support?

The USD/JPY chart momentum indicates a weak bearish trend in the market, indicating a potential downward trend towards the 1st support at 144.94 that is identified as an overlap support that aligns with the 100.00% Fibonacci projection level. Similarly, the 2nd support at 143.73 is also identified as an overlap support.

To the upside, the 1st resistance at 146.47 is identified as a multiple swing-high resistance while the 2nd resistance at 147.27 is identified as a resistance level that aligns with the 127.20% Fibonacci extension level.