Short

EURJPY → False breakout of key resistance ...

is forming a false breakdown of resistance and draws us a reversal pattern against the upper boundary of the descending price channel, as well as the pressure on the market creates the correction of the dollar...

On the daily chart the structure is bearish. After the false breakout of the global resistance a correction is formed, within which the price can test the imbalance zone or the previously broken resistance and continue its fall after the liquidity capture. The global trend is neutral and in this case it is worth considering local support levels as targets

Resistance levels: channel boundary, 162.3, 163.0
Support levels: 160.84, 158.9

A retest of the channel resistance or the area of 162.4 - 163 is possible. But any return of the price under the resistance of the descending channel and consolidation of the price in the selling zone may provoke further decline

Regards R. Linda!

RLinda

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