USD/JPY, Technical Analysis – H4
The pair continues to consolidate inside a narrowing triangular range between 161.800 and 162.400.
The pair continues to consolidate inside a narrowing triangular range between 161.800 and 162.400. A test of the upper boundary triggered another leg lower. Accordingly, we expect a move toward 161.800, followed by a fresh rebound higher.
Key Levels:
□ 161.800 (lower boundary / key support)
□ 162.200 (intermediate target)
□ 162.400 (upper boundary / resistance)
Primary Scenario:
Decline to 161.800, followed by an upward reversal toward 162.200.
Analyst Commentary:
The 4-hour timeframe suggests that the current consolidation is unlikely to be resolved within today’s trading session.
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.