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.
The trade levels, signals and forecasts in this article are calculated automatically from technical indicators and price history. They are not investment advice or a recommendation to buy or sell any financial instrument. Past performance and forecasts do not guarantee future results. Risk Warning: CFDs are complex financial products traded on margin. Trading CFDs is risky and may not be suitable for all investors. Ensure you understand the risks involved as you may lose all your invested capital.
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.
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