confluence of two trend lines and 135 round number

The upsurge due to the BOJ intervention is now stalled at the confluence of two crucial trendlines and 135 round number. Unless price breaks upwards, the major downtrend is still intact.

As the first attempt will usually fails, there is a possibility that the price will retrace downwards to re-test the broken resistance which now should turns into support at 132.00 area.

Only then, we could see whether the BOJ is still insisting on the intervention or not.....


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