USD/JPY, Technical Analysis – H1
The downside reversal scenario has not yet been activated, although it remains relevant (at least until the most recent high is updated).
The downside reversal scenario has not yet been activated, although it remains relevant (at least until the most recent high is updated). Once a sufficient trigger for decline emerges, we can expect the pair to reach the area around 161.550.
Key Levels:
□ 161.550 (target)
Primary Scenario:
Decline toward 161.550.
Alternative Scenario:
Further consolidation before the resumption of the downward move.
Analyst Commentary:
The medium-term target could prove significantly more ambitious, which is worth evaluating on higher timeframes.
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.