USD/JPY, Technical Analysis – H4

The long-awaited breakout from the triangle has finally occurred. The market has clearly chosen the upside direction, and we may now see a rather impressive rally that realizes the full potential accumulated earlier. Potential targets are located at 163.00, 164.00, and 165.00.

Key Levels:

□ 162.500 — Triangle upper boundary (retest zone)

□ 163.00 — First upside target

□ 164.00 — Next major target

□ 165.00 — Extended target

Primary Scenario:

Breakout to the upside targeting 163.00 and 164.00.

Alternative Scenario:

Retest of the upper boundary of the triangle around 162.500, followed by a more intense resumption of the upward move.

Analyst Commentary:

Total bullish dominance remains firmly in place.