USD/JPY Technical analysis

Note: This section contains information in English only.
Source: Dukascopy Bank SA
USD/JPY on the 1H chart remains firmly bullish, with price action showing consistent higher highs and higher lows since the rebound from the 152.000 area. The pair is trading within a well-defined ascending parallel channel and is currently positioned in the upper half of that structure, reflecting strong and sustained buying pressure.



Price is around 156.475, approaching the upper boundary of the channel. Immediate resistance sits at the channel top, followed by the horizontal level at 157.290, with the longer-term psychological level near 159.050 beyond that. On the downside, the lower channel trendline around 155.500 acts as the first key support, while the major structural support remains at 151.925, which previously served as a strong base.

The market is displaying a healthy stair-stepping pattern, where impulsive rallies are followed by brief consolidations before continuation higher. While this confirms trend strength, the current positioning near the top of the channel reduces the attractiveness of new long entries, as pullbacks toward the channel's midpoint or lower boundary are common in this phase.
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Wed, 04 Feb 2026 14:19:52 GMT

EUR/USD Technical analysis

EUR/USD has recently seen a notable corrective move after topping near the 1.2050 region. Following this decline, price action has entered a consolidation phase and is currently testing an important support zone, making this area critical for the next directional move. From a moving average perspective, short-term momentum remains bearish. The price is trading below the 24-period simple moving average, which

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