USD/JPY, Technical Analysis – H4
USD/JPY continues its broader uptrend on the H4 timeframe while approaching a key resistance zone. The price action suggests a potential pause before the next leg higher.
The uptrend remains intact, although the market may require some consolidation around 162,600, a level where strong resistance was previously seen. If bears fail to break this area, further growth toward 163,000 becomes highly likely.
Key Levels:
□ 162,600
□ 163,000
Primary Scenario:
Consolidation ahead of a move toward 163,000.
Alternative Scenario:
Direct rise to 163,000 and higher.
Analyst Commentary:
Additional confirmation of sustained buying pressure at 162,600 will be needed before expecting the next upward leg.
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.