ðąUSDJPY - Bounce from the level before resistance breakout
USDJPY is testing the resistance of the ascending channel and the resistance of the 144.897 range. On the local timeframe, the price is preparing for a breakout and further growth
TA on the high timeframe:
1) A retest after a month, and a quick approach to the level may give a bounce down, for example to 143.7
2) Price has stopped and is forming a decrease in volatility, most likely the consolidation phase begins, another retest of resistance may follow.
TA on the low timeframe:
1) Price is sandwiched between rising resistance and rising support line, but at a less acute angle.
2) Buyers continue to make an onslaught on the resistance
3) The price may break the resistance after the next retest.
Key supportð: 144.3, 143.7
Key resistanceð: 144.69, 144.89
TA on the high timeframe:
1) A retest after a month, and a quick approach to the level may give a bounce down, for example to 143.7
2) Price has stopped and is forming a decrease in volatility, most likely the consolidation phase begins, another retest of resistance may follow.
TA on the low timeframe:
1) Price is sandwiched between rising resistance and rising support line, but at a less acute angle.
2) Buyers continue to make an onslaught on the resistance
3) The price may break the resistance after the next retest.
Key supportð: 144.3, 143.7
Key resistanceð: 144.69, 144.89
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