[BTCJPY] Temporarily exceeded 750,000 yen but was hammered down

In the post dated August 20, titled “Is there a contact with the important level at 740,000 yen for BTCJPY?” it was noted that around the upper area of roughly 740,000 yen, the neck line of the recent inverse head and shoulders runs, drawing particular attention to any contact with this level. In fact, on the 22nd, there was movement pushing above this level, briefly entering the 750,000 yen range. However, after leaving a long upper shadow, the price returned to around the 700,000 yen level and formed a bearish candle. For a while, the focus will likely be on around 700,000 yen, with a range of 50,000 yen up and down, creating a consolidation in the 650,000 to 750,000 yen band.