FX.co ★ USD/JPY H4 | Bearish Drop

USD/JPY indicates a potential for a bearish downturn, backed by significant technical levels:

Resistance Levels:

1st resistance: 149.50, identified as "An Overlap resistance." This level suggests a significant barrier to upward movement.

2nd resistance: 150.79, supported by "Multi-swing high resistance." It further reinforces the resistance zone, indicating a strong level where selling pressure may increase.

Support Levels:

1st support: 147.81, marked as "An Overlap support." This level may act as a potential area where buying interest could emerge.

2nd support: 146.28, characterized by "An Overlap support." It strengthens the support zone, indicating another level of interest for buyers.