USDJPY – The currency pair is trying to consolidate above (6/8)

12.04.2024

H4: The chart presents an ambiguous situation. On one hand, the price has broken through the (6/8) level, indicating further growth. On the other hand, this breakthrough was very challenging. The price lingered at this mark for a long time, and a return below it could signify a false breakout and the development of a downward correction. This scenario seems more likely today. However, confirmation should wait for the price to drop below the (6/8) level.

Trading decisions: Sell at 153.40, TP 152.60.