FX.co ★ USD/JPY H4 | Bearish Reversal

The USD/JPY chart is currently experiencing significant resistance levels, indicating the potential for a bearish breakout.

Resistance Levels:

The 1st resistance level at 144.92 is characterized as "An Overlap resistance." This level represents a strong barrier to further upward price movement. Additionally, the 2nd resistance level at 146.54 is also identified as "An Overlap resistance," further highlighting its role as a significant resistance zone.

Support Levels:

On the support side, the 1st support level at 142.94 is described as "An Overlap support." This level suggests a potential area where buying interest may emerge and could act as a crucial support zone. Further down, the 2nd support at 141.89 is also characterized as "An Overlap support," reinforcing its significance as a substantial support level.