USD/JPY, Technical Analysis – H1

The pair is maximally consolidated following the Fed’s rate decision. The prevailing bullish trend remains intact: the trendline has been tested, and a bull flag pattern has been completed. An upward impulse may occur at any moment, with bulls targeting a new high in the 164.100–164.200 area.
A bearish reversal can be considered only after a break of support at 163.200.
Key Levels:
⬜ Support: 163.200
⬜ Target: 164.100–164.200
Primary Scenario:
Advance toward 164.100–164.200.
Alternative Scenario:
Continued consolidation within the 163.400–163.800 range.
Analyst Commentary:
Despite prolonged weakness against the dollar, the yen remains a recognized safe-haven currency, so a downside reversal cannot be ruled out.