USDJPY remains bearish within a descending channel, with price approaching a key resistance zone between 158.20 and 159.60. A confirmed rejection could lead to a move toward 155.93, followed by the potential downside target at 151.94. A sustained breakout above resistance could weaken the bearish outlook.
USD/JPY 1-hour chart shows a potential bullish recovery after price moved lower from the previous resistance area. The chart identifies important support and upside target levels that could become relevant if buyers regain control.
GBPUSD is consolidating inside a contracting triangle structure, with price approaching the lower trendline support. A confirmed bearish breakdown below the triangle can open the way toward the marked downside target zones. 1.3580 is the first key reaction area, while a stronger continuation could extend toward 1.3555–1.3535.
The GBP/USD pair on the m30 timeframe presents a Potential selling Opportunity due to a recent Formation of a Head and Shoulder Pattern. This suggests a shift in momentum towards the downside in the coming hours.
What are your thoughts on USDJPY? Following intervention by the Bank of Japan, USD/JPY experienced a sharp decline from around 164.00 to 155.00, breaking below both the ascending trendline and the key 160.00 support zone.
USD/CHF is showing signs of a potential bullish reversal after forming an inverse Head & Shoulders structure around the 0.7950–0.7990 demand area.