USD/JPY, Technical Analysis – H1
Bears successfully defended the local low, thereby preserving the ascending corrective structure.
Bears successfully defended the local low, thereby preserving the ascending corrective structure. A full-scale decline is likely to materialize only after liquidity is tested in the 160.55–160.60 zone.
Key Levels:
◻️ 160.00 (key support)
◻️ 160.55–160.60 (liquidity/resistance zone)
Primary Scenario:
Advance toward 160.55–160.60, followed by a bearish reversal targeting 160.00.
Alternative Scenario:
A liquidity sweep above 160.60 (short squeeze), potentially extending the corrective rally before any meaningful downside develops.
Analyst Commentary:
Placing pending sell orders around the 160.55–160.60 zone appears reasonable, but traders should not rule out a squeeze through this area.
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.