USDJPY, Time frame: 4HUSDJPY, Time frame: 4H

USD/JPY has entered a clear period of consolidation following its sharp recovery from the September lows. Price is trading around 158.15, with the market compressing between a rising support trendline and a horizontal resistance zone near 158.80–159.00.

159.00 Remains the Key Barrier

The highlighted resistance zone has repeatedly capped advances throughout October. Several rallies have stalled in this region, confirming it as the primary obstacle facing buyers.

The more often a resistance level is tested, the more attention it attracts from market participants, making the current setup particularly significant.

Rising Trendline The ascending trendline connecting the September and October lows remains intact and continues to support price action.

Each pullback has produced a higher low, indicating improving demand beneath the market. This pattern suggests buyers remain active despite the inability to clear resistance.

Point of Control

The volume profile highlights the 158.05 Point of Control (POC), marked by the black horizontal line. Price continues to hold above this major value area, suggesting the market remains comfortable trading at current levels while awaiting a catalyst for the next move.

MACD

The MACD histogram has flattened near the zero line, while both MACD and signal lines continue to converge. This reflects slowing momentum and is consistent with the current period of consolidation. Rather than showing directional conviction, the indicator suggests the market is waiting for a breakout from the developing triangle structure.