The pair continues a sideways consolidating price movement, trading without significant change.
From a technical standpoint, sustained strength above the psychological level of 145.00 and a firm move higher would confirm a bullish breakout from the multi-week trading range. Given that the Relative Strength Index (RSI) has just begun to gain positive momentum, USD/JPY could surpass the monthly high near 145.45 and aim for the key round level of 146.00. The bullish momentum may extend further toward the 146.25 level or the May 29 high.
On the other hand, any corrective decline will likely find support around the 144.50 level, ahead of the round level at 144.00. A decisive break below this threshold could drag USD/JPY toward intermediate support at 143.50, followed by the 143.00 level and last Friday's swing low near 142.75. Below these levels, the pair may once again shift its short-term bias in favor of the bears.
