USD/JPY – Technical Analysis (H1)
The local bullish structure in USD/JPY looks unconvincing, with rounded tops pointing to possible exhaustion. A decline toward the 158.500 balance support remains the preferred scenario.
The local bullish structure (which is in reality only part of a larger corrective upward move rather than an independent trend) appears highly unconvincing. New highs are forming rounded tops, which may signal exhaustion. As a result, another decline toward the balance support at 158.500 can be expected.
Key Levels:
- 158.500 – balance support / primary downside target
- 159.700 – potential new local high
Primary Scenario:
Decline toward 158.500.
Alternative Scenario:
Formation of a new local extreme near 159.700, followed by a reversal lower toward 158.500.
Analyst Commentary:
It is preferable to wait for confirming signals. Keep in mind the “Friday factor” as well — markets tend to quiet down ahead of the weekend.
Nikolai Krishtopov es analista de mercado en Investizo, con más de 15 años de experiencia en el sector de los mercados financieros y más de una década de experiencia operando. Sus áreas de interés incluyen los mercados de forex y criptomonedas, el análisis técnico, el trading intradía y el comportamiento del mercado.