USD/JPY, Technical Analysis – H1

A bullish continuation pattern (“bull pennant”) has formed, suggesting further upside momentum with a potential move of around 70 pips toward the 163,900–164,000 zone.

Key Levels:

□ 163,900 (immediate target)

□ 164,000 (key resistance)

Primary Scenario:

Continued growth toward 163,900–164,000.

Alternative Scenario:

Consolidation at current levels in preparation for the next bullish impulse.

Analyst Commentary:

The overall setup looks clearly bullish and favors further upside.