USD/JPY, Technical Analysis – H1
USD/JPY is completing a corrective consolidation on H1 with clear bearish dominance. A break below 157.500 opens the way for an impulsive decline toward 156.500.
The pair is in the final stage of a corrective consolidation. Bullish momentum is virtually absent, confirming continued bearish dominance. A break below support at 157.500 is expected to trigger an impulsive decline toward a new low in the 156.500 area.
Key Levels:
□ 1. 158.500 – resistance
□ 2. 157.500 – support
□ 3. 156.500 – downside target
Primary Scenario:
Pullback to 158.500, followed by a reversal lower.
Alternative Scenario:
Decline from current levels.
Analyst Commentary:
Downside potential stands at approximately 200 pips, offering an attractive setup for sellers.
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.