USD/JPY, Technical Analysis – H1
The pair has formed a reversal setup after clear buyer exhaustion at the resistance zone around 161,700.
The pair has formed a reversal setup after clear buyer exhaustion at the resistance zone around 161,700, followed by a break below the local trendline. This opens the path for a move lower toward the 160,300 area.
Key Levels:
□ 161,700 — key resistance (recent rejection zone)
□ 161,400 – 161,700 — consolidation range
□ 160,300 — primary downside target
Primary Scenario:
Decline toward 160,300.
Alternative Scenario:
Consolidation within the 161,400–161,700 range.
Analyst Commentary:
The 161,700 area currently appears insurmountable for bulls without a meaningful correction. Sustained strength above this level would be required to neutralize the bearish bias.
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.