USDJPY
Preference:
The current 4-hour chart showcases a strong uptrend until the price level of 148.672 is attained. Upon reaching this point, the price began to exhibit lower highs, leading to the creation of multiple rejections within this region. Following the establishment of this area as resistance, the price proceeded to break out and is now undergoing a retest of this region. In the event that the price fails to surpass this area, a potential pullback to the 38.2 level on the Fibonacci retracement may ensue.
Alternative Scenario:
In the event of a price surge beyond the existing level, a new peak would be established, resulting in the formation of a bullish flag pattern. This would signify a potential continuation of the current upward trend, with a high likelihood of further gains in the near future.