USD/JPY, Technical Analysis – H1
USD/JPY remains tightly consolidated after the Fed’s rate decision while the prevailing bullish trend stays intact. A tested trendline and a completed bull flag suggest an upward impulse toward fresh highs may unfold at any moment.
The pair is maximally consolidated following the Fed’s rate decision. The prevailing bullish trend remains intact: the trendline has been tested, and a bull flag pattern has been completed. An upward impulse may occur at any moment, with bulls targeting a new high in the 164.100–164.200 area.
A bearish reversal can be considered only after a break of support at 163.200.
Key Levels:
⬜ Support: 163.200
⬜ Target: 164.100–164.200
Primary Scenario:
Advance toward 164.100–164.200.
Alternative Scenario:
Continued consolidation within the 163.400–163.800 range.
Analyst Commentary:
Despite prolonged weakness against the dollar, the yen remains a recognized safe-haven currency, so a downside reversal cannot be ruled out.
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.