USDJPY ! False breakout. The price is in the short zone🥶

26 ก.ค. 2022

The USDJPY after the false-break formed a strong momentum of 300 pips and broke the resistance of the 136.7 range, which means that the price entered the short zone of the range, and it is logical to expect a fall in the price.

On the chart we can see that the price is testing the resistance, the local trend is downtrending and I believe that the price may stay in the short zone.

I assume that after testing 136.7, the price will not be able to break up this level and will start to consolidate under it. I expect a fall after consolidation. The short-term target is the support 134.48.

Regards R.Linda!