The USD/JPY chart is currently displaying an overall bearish momentum, as it approaches a key support level.
Resistance Levels:
The 1st resistance at 144.53 is identified as a "Swing-high Resistance", implying its potential to impede upward price movements. Additionally, the 2nd resistance level at 145.32 is characterized as a "Pullback Resistance" indicating its role as a substantial obstacle to further advances.
Support Levels:
On the support side, the intermediate support at 142.06 serves as a "Pullback Support". This level suggests an area where buying interest may emerge, potentially providing some support to the price. Similarly, the 2nd support at 141.50 is also classified as a "Multi-swing-low Support" highlighting its significance as a substantial support zone.
