FX.co ★ USD/JPY H4 | Bearish breakout

The USD/JPY (US Dollar/Japanese Yen) chart analysis suggests a potential bearish breakout scenario with key resistance and support levels:

Resistance Levels:

The 1st resistance level at 148.77 is identified as "An Overlap resistance." This level represents a significant barrier for upward price movement.

The 2nd resistance level at 149.83 is also labeled as "An Overlap resistance," indicating another critical resistance zone.

Support Levels:

The 1st support level at 147.40 is noted as "An Overlap support." It represents a key support level where buyers may step in.

The 2nd support level at 146.50 is described as "Pullback support." This level can serve as additional support below the first level.