USD/JPY – Technical Analysis (H1)
USD/JPY remains tightly consolidated ahead of today’s key US macroeconomic data. A clear directional impulse is expected once the figures are released, with 158.300 and 158.600 acting as the primary control levels.
The pair remains tightly consolidated ahead of today’s release of important US macroeconomic data. Once the figures are presented to the market, the price is expected to receive a clear impulse in either direction. The key control levels of support and resistance stand at 158.300 / 158.600.
Key Levels:
□ Support: 158.300
□ Resistance: 158.600
Primary Scenario:
Range-bound action until the news release, followed by an impulse move in either direction.
Analyst Commentary:
From a pure trend-continuation perspective, a move lower appears more logical. However, on days such as today, technical logic takes a back seat — Non-Farm Payrolls (NFP) data is simply too fundamental for the market.
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.