USD/JPY – Technical Analysis (H1)
Intraday
Technical
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.
Scenario
Recommendation
SELL
Entry Point
159,400
Take Profit
158,500
Stop Loss
159,800
Key Levels
158,500
Alternative scenario
Recommendation
SELL LIMIT
Entry Point
159,600
Take Profit
159,900
Stop Loss
158,500