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.
