EURJPY near strong resistance - fall
In early December, during a strong growth, the price broke through the support line 125.337 and continued to grow.
I expect it to complete its rally when it touches the resistance level.
This is a historically strong level.
The price moves along it, sometimes above the rounder, using it as a support, then below the level - as recently.
If you draw a line between all the price highs since 2007, it becomes clear that the price is in a global downtrend.
And right now the trend line is crossing the level line.
I doubt that the price will be able to break through such resistance.
I expect it to first touch the resistance zone 126.852.
And then it will fall to the support line 125.474.
------------------------
Share your opinion in the comments and support the idea with likes.
Thank you for your support!
I expect it to complete its rally when it touches the resistance level.
This is a historically strong level.
The price moves along it, sometimes above the rounder, using it as a support, then below the level - as recently.
If you draw a line between all the price highs since 2007, it becomes clear that the price is in a global downtrend.
And right now the trend line is crossing the level line.
I doubt that the price will be able to break through such resistance.
I expect it to first touch the resistance zone 126.852.
And then it will fall to the support line 125.474.
------------------------
Share your opinion in the comments and support the idea with likes.
Thank you for your support!
🚀TOP 1 broker🚀
bit.ly/3spSQqC
🔻FREE Telegram channel🔻
t.me/DeGRAMChannel
🔻Contact for Paid SIGNALS🔻
t.me/DeGRAMForex
bit.ly/3spSQqC
🔻FREE Telegram channel🔻
t.me/DeGRAMChannel
🔻Contact for Paid SIGNALS🔻
t.me/DeGRAMForex
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.