USD/JPY, Technical Analysis – H1

The pair has formed a reversal setup after clear buyer exhaustion at the resistance zone around 161,700, followed by a break below the local trendline. This opens the path for a move lower toward the 160,300 area.

Key Levels:

□ 161,700 — key resistance (recent rejection zone)  

□ 161,400 – 161,700 — consolidation range  

□ 160,300 — primary downside target

Primary Scenario: 

Decline toward 160,300.

Alternative Scenario: 

Consolidation within the 161,400–161,700 range.

Analyst Commentary:

The 161,700 area currently appears insurmountable for bulls without a meaningful correction. Sustained strength above this level would be required to neutralize the bearish bias.