Ella 
USD/JPY dipped around 146.10, struggling to extend gains.
The MACD indicator is below its signal line, indicating near-term weakness in USD/JPY.
The 147.00 psychological level is at last week’s high and acts as a key resistance.
In the Asian market on Monday, USD/JPY struggled to continue the gains of the previous trading day, falling to around 146.10. USD/JPY consolidated as traders remained cautious about the Federal Reserve’s monetary policy decision after mixed U.S. jobs data on Friday.
The MACD indicator is still above its midline, but below its signal line, suggesting tepid momentum in USD/JPY in the near term.
USD/JPY may face challenges around the psychological 147.00 mark, followed by the area around last week’s high of 147.37.
On the other hand, the 14-day exponential moving average (EMA) at 145.67 and the 21-day exponential moving average (EMA) at 145.19 serve as near-term support.
If USD/JPY falls below this level, bears may test the area near the 23.6% Fibonacci retracement level at 144.98, followed by the 38.2% Fibonacci retracement level at 143.50.
In the short term, USD/JPY remains bullish as long as the 14-day Relative Strength Index remains above 50.
