Today, the USD/JPY pair has shown some resilience below the 100-hour Simple Moving Average (SMA)

From a technical perspective, the USD/JPY pair demonstrated some stability today below the 100-hour SMA, which favors the bulls. Oscillators remain confidently in positive territory and are far from the overbought zone, indicating that the path of least resistance for spot prices is to the upside. Therefore, further strengthening toward the round level of 149.00 is quite likely. The upward movement may continue and reach the psychological level of 150.00.

On the other hand, the round level of 148.00 and the 100-hour SMA provide immediate support against a decline toward the Asian session low near 147.70. A drop below this level could see the USD/JPY pair retest areas below the round 147.00 level. Additional selling would shift the balance in favor of the bears, dragging spot prices lower.

On the daily chart, oscillators also remain in positive territory, suggesting further upward potential for the USD/JPY pair.