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!
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🌹TRADING is a CASINO💔!?
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