USDJPY H1 AnalysisJAPANESE YEN / U.S. DOLLARFX_IDC:JPYUSDHenrybillionUSDJPY H1 Analysis – Range High Distribution and Potential Bearish Rotation USDJPY is currently trading near the upper boundary of a well-defined H1 range, where price has repeatedly failed to achieve sustained bullish continuation. The current structure suggests distribution at range highs, with downside liquidity becoming increasingly attractive. Market Structure & Price Action On the H1 timeframe, USDJPY previously printed a strong bullish impulse, followed by range consolidation. Price is now compressing below a clear resistance zone, with multiple failed breakout attempts and overlapping candles. This behavior typically signals buyer absorption and weakening upside momentum, rather than healthy trend continuation. The lack of impulsive follow-through above resistance suggests smart money is likely positioning for a corrective move. Key Support & Resistance Levels Major Resistance: 0.006425 – 0.006440 Range high and supply zone where price has consistently been rejected. Intraday Resistance: 0.006415 – 0.006420 Short-term reaction zone inside the range. Immediate Support: 0.006395 – 0.006400 First downside liquidity pocket. Key Support / Target: 0.006375 – 0.006385 Range low and higher-probability draw on liquidity. Fibonacci & Technical Confluence The current price action sits within the premium zone (above 61.8%) of the previous bullish leg, a typical area for profit-taking and short positioning. EMA structure is flattening, indicating loss of trend strength, while RSI remains capped without bullish expansion, reinforcing the idea that upside momentum is limited. Trading Scenarios Scenario 1 – Bearish Rotation from Range High (Preferred) Look for rejection or bearish confirmation near 0.006420 – 0.006440 Targets: 0.006400 0.006385 Extension toward range low if momentum increases Scenario 2 – Bullish Break and Hold A clean break and sustained hold above 0.006440 Would invalidate the bearish bias and open upside continuation Conclusion USDJPY is currently trading at a high-risk premium zone near range resistance, with price action favoring a mean-reversion move back into balance. Until a clear breakout occurs, the intraday bias remains cautiously bearish, with downside liquidity as the primary magnet. If this analysis aligns with your view, consider saving it for reference and following to stay updated with structured intraday market insights.