Major weekly false break - What's next$FAS is testing the bottom of a weekly channel. Critical support zone to watch but on the longer term, I'm bearish
Falsebreak
GBPAUDReferring to my earlier analysis on the daily chart for this pair in the link below, this market has gone deep into the identified support zone and pushed beyond the lower end of the zone before rallying back up into the zone at the point of writing this post.
The candle in H4 chart is not closed yet. Will wait and see if this is the false break I have been waiting for to send the price up.
USDJPYLast week, market tested and broke resistance zone around 102.75 three times but failed to close above it. From the chart, we can see the three candles with long upper wicks showing rejection of resistance zone. Will be looking for short opportunities from any retracement back to 102.75 level.
