USD/JPY Day I Bearish continuation expected?

The USD/JPY chart is currently indicating the potential for a bearish breakout, with significant support and resistance levels at play.

Support Levels:
At 144869.00, the 1st support is characterized as "An Overlap support." This level signifies a potential area where buying interest may emerge, potentially preventing further downward movement. Additionally, the 2nd support at 141.98 is identified as "An Overlap support," further reinforcing its potential significance in providing support to the price.

Resistance Levels:
On the resistance side, the 1st resistance level at 148.28 is labeled as "An Overlap resistance." This level represents a notable barrier to further upward price movement and warrants attention from traders.

Analysis are provided by InstaForex

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