USDJPY Weekly Chart from 27 July to 31 July

USDJPY already broke the resistance line @ 121.80 since 23 June to test 10-year high @ 125.60 but failed to close above that level then dropped again to 121.80 level forming a dragonfly doji rejected by all MAs and short-term trendline which potentially confirming a new support. Warning !! The current candlestick is narrow range with churning volume it indicates that demand is being met by at supply in this range (125.60 - 121.80). It's likely a false breakout, I prefer to wait the next candle tell me where I should take action.