USD/JPY, Technical Analysis – H4

Although the overall downward trend reversal was confirmed last week, the market has chosen a consolidation scenario within a triangle to accumulate momentum before the primary move. Consequently, we can expect a test of the upper boundary of the range near 162,600, followed by a decline toward 161,600.

Key Levels:

□ 162,600 (key resistance / triangle upper boundary)

□ 161,600 (key support)

Primary Scenario:

Rise to 162,600, followed by a decline to 161,600.

Alternative Scenario:

Narrower intraday consolidation range (162.00–162.600).

Analyst Commentary:

Selling from the upper wall of the triangle (162,600) looks promising both for intraday trades and in the medium-term outlook.