USD/JPY, Technical Analysis – H1
The US dollar strengthened against the Japanese yen following the Federal Reserve’s press conference and decision to maintain interest rates at current levels.
The US dollar strengthened against the Japanese yen following the Federal Reserve’s press conference and decision to maintain interest rates at current levels. This move broke the prior downward structure and formed a clear Bull Flag pattern, opening the way for further upside of approximately 600 pips toward the 161,200–161,300 zone.
Key Levels:
□ 160,300–160,500 (support / lower boundary of the flag)
□ 161,200–161,300 (key resistance and pattern target)
Primary Scenario:
Continuation of the uptrend with growth toward 161,200–161,300.
Alternative Scenario:
Consolidation within a triangular range in preparation for a bullish breakout.
Analyst Commentary:
Buyers hold a clear and complete advantage. The technical picture strongly favors long positions.
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.