USD/JPY, Technical Analysis – H4
The pair is approaching a decisive moment. The triangular consolidation range is nearly filled.
The pair is approaching a decisive moment. The triangular consolidation range is nearly filled (though limited room for further range trading still remains), setting the stage for a “spring release” and an impulsive breakout from the triangle in the near term. The key control levels are 161.900 and 162.200. A decisive breakout above or below one of these levels should determine the market’s next directional move.
Key Levels:
□ 161.900
□ 162.200
Primary Scenario:
Consolidation within the 161.900–162.200 range.
Alternative Scenario:
Breakout of the 161.900–162.200 range followed by a strong impulse in the direction of the breakout.
Analyst Commentary:
The probability of a retest after the breakout is very high. Therefore, there is no need to rush into positions.
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.