USD/JPY, Technical Analysis – H4
The bullish trend has ignored any potential signs of buyer exhaustion. As a result, the strong advance has continued with impressive momentum.
The bullish trend has ignored any potential signs of buyer exhaustion. As a result, the strong advance has continued with impressive momentum. The key support levels are currently at 162.300 and 162.200, where demand is likely to appear. Only a decisive move below 162.200 would seriously question the upside potential of the uptrend.
Key Levels:
□ 162.200 (critical support)
□ 162.300 (immediate support)
□ 163.00 (next target)
Primary Scenario:
Continuation of the uptrend toward 163.00, potentially preceded by a test of 162.300.
Alternative Scenario:
Deeper retracement to 162.200, followed by a renewed bullish phase.
Analyst Commentary:
The trend is your friend. This pair continues to demonstrate that timeless trading truth in excellent form.
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.