USD/JPY is currently encountering a resistance level at 147.37. If the price successfully breaks above this resistance level, it could potentially trigger further upside movement towards the 148.00 level.
On the downside, the immediate support to watch is located at 146.80. If the price breaks below this support level, it could lead to a retracement towards the key support level at 144.43. A further breakdown below 144.43 would potentially target the 141.50 support level.
Traders should closely monitor the price action in USD/JPY, keeping an eye on the behavior around the resistance level at 147.37, the immediate support at 146.80, and the key support at 144.43. These critical levels will provide important insights into potential continuations or reversals in the USD/JPY price movement.