USD/JPY, Technical Analysis – H1

The pair appears to be approaching the completion of its upward correction, with a likely test of the 162.650 zone — an area that formed a very strong supply level last week. There is a high probability that the market will face intense selling pressure from this region.

Key Levels:

□ Resistance: 162.650

□ Support zone: 162.000 / 161.800

Primary Scenario:

Rise toward 162.650 followed by a sharp downside reversal.

Alternative Scenario:

Consolidation around current levels.

Analyst Commentary:

To avoid potential upside squeeze risks, it is preferable to look for short opportunities after confirmation of a reversal from 162.650.