GBPJPY reasons for falling prices
Last week the price came to the resistance 152.15.
This is an important line on the chart - the top line of the rising channel.
The channel was formed in 2019.
The price broke it out but came back in March 2020.
And since then has been growing in the channel.
From resistance 152.15 the price turned around and started to fall.
It has broken through the strong resistance zone at 149.44.
This zone consists of the level + line of October 2019.
After the breakout, the price immediately consolidated towards the zone.
And now I expect it to start falling.
With corrections, the price will break the 147.44 support.
And it will go down to support - the lower line of the channel.
The target is 143.76.
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Share your opinion in the comments and support the idea with likes.
Thank you for your support!
This is an important line on the chart - the top line of the rising channel.
The channel was formed in 2019.
The price broke it out but came back in March 2020.
And since then has been growing in the channel.
From resistance 152.15 the price turned around and started to fall.
It has broken through the strong resistance zone at 149.44.
This zone consists of the level + line of October 2019.
After the breakout, the price immediately consolidated towards the zone.
And now I expect it to start falling.
With corrections, the price will break the 147.44 support.
And it will go down to support - the lower line of the channel.
The target is 143.76.
--------------------
Share your opinion in the comments and support the idea with likes.
Thank you for your support!
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