USD/JPY, Technical Analysis – H4

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.