The USDJPY is facing key resistance levels as it attempts to recover from recent declines. The pair retested the 100-bar moving average on the 4-hour chart at 148.85, along with the 50% retracement level of the September 2024 low to recent highs at 149.22. Although the price moved above the 100-bar MA on the 4-hour chart, the price could not extend above the 50% retracement.

These levels are critical as they would determine the next directional bias. Until the price can maintain a sustained break above 149.22, sellers remain in control.

If 149.22 is broken with momentum, it would open the door for further upside, with buyers potentially targeting the psychological 150.00 level and beyond. A strong push above this zone could reinforce bullish sentiment and shift the market bias toward higher levels.

Conversely, if resistance holds and the price remains below 148.85 adn 149.22, the downside remains vulnerable. The first key support is at the March 4 swing low at 148.10. Below that, there is little support until the 147.21to 147.33 area.

Further losses could see a test of the 61.8% retracement of the September low move at 146.94, followed by the yearly low at 146.53, which also aligns with October levels. A break below these areas would further strengthen the bearish outlook step-by-step.