Ella 
On Friday, USD/JPY fell to 144.92 before closing at 145.37 (-0.32%). The downside momentum has strengthened slightly, and the exchange rate is bearish today. However, any decline is unlikely to threaten the strong support at 144.00 (another support is at 144.60). Resistance is seen at 145.60, then at 146.00.
Next 1-3 weeks: Since August 11 (current price 144.80), we believe that USD/JPY “could continue to rise, but the pace may slow down. The next level of concern above 145.05 is 146.00.” Last week, the exchange rate rose above 146.00 and rose to 146.56 before falling back. An overbought pullback and fading momentum suggest that the odds of further sustained gains are low. However, only a break above 144.00 (a ‘strong support’ level) would suggest that no further gains could be made. Looking ahead, if there is a clear break above 146.56, any further gains could face significant resistance at 147.50.
