EURJPY → False breakout of strong resistance at 164.

5月2日

EURJPY rallies on news and reaches an important milestone. The liquidity pool formed above 164.00 may prevent the price from rising. There is a high chance of a false breakout.



Against the backdrop of the dollar's growth caused by PMI news, the currency pair is forming a retest of the key resistance level of 164.188 as part of a consolidation distribution and, with no possibility of continuing its growth, is making a false breakout.
Consolidation in the sell zone (below 164.188) will trigger a reversal and a fall.
Overall, the situation is neutral, with the market in a sideways range, and a false breakout could lead to a correction or reversal of the local trend.

Resistance levels: 164.188
Support levels: 163.17, 162.57

The formation of a reversal pattern relative to resistance and price consolidation below the level could give a good signal for a reversal.

Best regards, R. Linda!

5月2日

交易進行

5月6日

交易結束：目標達成