USD/JPY, Technical Analysis – H1
The pair is in the final phase of its ascending technical correction. The key supply zone stands at 160.55.
The pair is in the final phase of its ascending technical correction. The key supply zone stands at 160.55. It is unlikely that bears will be able to fully realize the available downside potential without first testing this area.
Key Levels:
□ 160.55 (key resistance / supply zone)
□ 159.80 (primary downside target)
Primary Scenario:
Rise toward 160.55, followed by a sharp reversal lower toward 159.80.
Analyst Commentary:
Levels of this significance tend to work quite reliably, allowing for a classic “set-and-forget” trading approach (placing limit sell orders in the 160.55 zone).
Nikolai Krishtopov is a Market Analyst at Investizo with more than 15 years of experience in the financial markets industry and over a decade of trading experience. His areas of focus include forex and crypto markets, technical analysis, intraday trading and market behaviour.