Passage
Falsehood I have hated, yea I abominate <FI>it<Fi> , Thy law I have loved.
Falsehood I have hated, yea I abominate <FI>it<Fi> , Thy law I have loved.
Psalms 119:161 <FI> Shin.<Fi> Princes have pursued me without cause, And because of Thy words was my heart afraid.
Psalms 119:162 I do rejoice concerning Thy saying, As one finding abundant spoil.
Psalms 119:163 Falsehood I have hated, yea I abominate <FI>it<Fi> , Thy law I have loved.
Psalms 119:164 Seven <FI>times<Fi> in a day I have praised Thee, Because of the judgments of Thy righteousness.
Psalms 119:165 Abundant peace have those loving Thy law, And they have no stumbling-block.
The verse centers on "falsehood", "hated", "abominate", and "loved". It is saying that the verse draws attention to "falsehood" and "hated", so its meaning should be read from those terms before moving to application.
The nearby context moves from verse 162's "I do rejoice concerning Thy saying As..." into verse 164's "Seven FI times Fi in a day...", so "falsehood" and "hated" belong inside that flow. In Psalms context, the local focus is worship, trust, the LORD's kingship, and covenant mercy.
A plain takeaway is to answer the verse's own emphasis on "falsehood" and "hated" with trust shaped by these words, not by a vague optimism outside the passage.