USD/JPY – Technical Analysis (H1)
USD/JPY has staged a local sell-off after forming a double top, echoing past Bank of Japan intervention patterns. The pair now sits at a critical juncture between a fresh push toward 160.000 and further downside to 158.000.
The pair has experienced a local sell-off, yet a similar picture was observed during the Bank of Japan’s landmark intervention. Price subsequently resumed its advance and posted a new high. There are almost no fundamental reasons to expect the uptrend to fail this time. The caveat is important: the latest sharp correction was driven by the formation of a double top — a relatively strong reversal signal that cannot be ignored.
Key Levels:
□ 1. Psychological resistance: 160.000
□ 2. Downside target: 158.000
Primary Scenario:
Transition into a new upward wave targeting the round psychological level of 160.000.
Alternative Scenario:
Continuation of the decline toward 158.000.
Analyst Commentary:
Wait for confirming signals before committing to either scenario.
Nikolai Krishtopov ialah Penganalisis Pasaran di Investizo dengan lebih 15 tahun pengalaman dalam industri pasaran kewangan dan lebih sedekad pengalaman berdagang. Bidang tumpuannya merangkumi pasaran forex dan kripto, analisis teknikal, dagangan intraday serta gelagat pasaran.