The USD/JPY chart currently suggests a bearish momentum, indicating a possible downward trend. In the short term, there's potential for a price rise towards the 1st resistance at 147.78 before a potential reversal towards the 1st support. The 1st support at 146.15 is significant for potential rebounds, coinciding with a swing low support and the 61.80% Fibonacci Projection.
Additionally, the 2nd support at 144.59 is another critical level, marked as a multi-swing low support and aligning with the 100% Fibonacci Projection. On the resistance side, the 1st resistance at 147.78 is a multi-swing high resistance, while the 2nd resistance at 148.76 is a swing high resistance. These levels could impede substantial bullish movements.
