From a technical standpoint, yesterday's breakout above the key psychological level of 148.00—also the June high—and the subsequent move above the May high around 148.65 can be seen as a fresh bullish trigger.

At the same time, the Relative Strength Index (RSI) on the daily chart has approached the 70 mark, above which lies the overbought zone. Therefore, before planning further buying, it would be reasonable to wait for a short-term consolidation or a minor pullback.

The corrective decline has already found support at 148.65. Below this level, the USD/JPY pair may drop to the psychological mark of 148.00. Any further decline could be seen as a buying opportunity, while remaining limited to the 147.60–147.55 zone. This area represents a key reversal point—its breakdown would trigger technical selling, dragging spot prices down toward the 147.00 level on the way to the support zone at 146.30–146.25.

On the other hand, sustained strength beyond the psychological level of 149.00 could lift the USD/JPY pair toward the next resistance around 149.40, followed by the 200-day Simple Moving Average (SMA). Beyond that, bullish momentum would face strong resistance near the psychological level of 150.00.