USDJPY grow in channel

18 ene 2021

Since July 2020, the price has been moving in a falling channel.
In late autumn, the channel was crossed by a strong support level.

This is a historically strong level. The last major breakdown was in 2013.
After that, the price rose above the level.
In 2016, she moved under him for a while.
Then it broke through the level and rose again.
Right now, I expect the price to be unable to move below the support level.
In the middle of December last year, the price made a false breakout of the level, fixed and rose above it again.
In early January, the price broke through the strong support level 103.678.
The price showed an increase, then worked out the correction and consolidated at the level.
I expect it to start growing from this level now.
The price will come to the resistance line (the upper line of the falling channel).
The target is 104.404.


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