The USDJPY currency pair has recently shown a significant downward movement, dropping from a high of 147.20 to a low of 143.18. This decline has resulted in a break below the crucial support level of 143.44.
Currently, the initial resistance is set at 144.20. As long as this resistance holds, we can anticipate that the downward trend from 147.20 will persist, with the next target potentially reaching the 142.30 area, followed closely by the 141.68 support level.
On the flip side, if the price breaks above the 144.20 resistance, it would suggest that the downward movement from 147.20 has concluded. In this scenario, the next target could be around 145.50, with further resistance anticipated at 147.34.