GBPJPY on strong resistance zone. Fall.
Since 2019, the price has been moving in an upward channel.
Not all this time, the movement took place exactly within the boundaries of the channel - there was a serious breakdown when the price moved above it.
But in March 2020, the price collapsed and again came over the channel line.
Now the price is within the support line.
This line intersects with the upper channel line forming a strong resistance zone
In early November, the price was already trying to break through this zone and grow, but after a slight increase, it returned to the support line.
And since then he has been moving almost close to her.
During this time, the price made a slight correction and then fixed on the line.
And so I expect her to have the strength to grow.
However, it will not rise much.
I expect the price from the support line 138.364 to rise to the minimum to the resistance line 139.039.
Then it will push off and fall to the support line (the lower channel line).
The target is 135.362.
--------------------------
Share your opinion in the comments and support the idea with likes.
Thank you for your support!
Not all this time, the movement took place exactly within the boundaries of the channel - there was a serious breakdown when the price moved above it.
But in March 2020, the price collapsed and again came over the channel line.
Now the price is within the support line.
This line intersects with the upper channel line forming a strong resistance zone
In early November, the price was already trying to break through this zone and grow, but after a slight increase, it returned to the support line.
And since then he has been moving almost close to her.
During this time, the price made a slight correction and then fixed on the line.
And so I expect her to have the strength to grow.
However, it will not rise much.
I expect the price from the support line 138.364 to rise to the minimum to the resistance line 139.039.
Then it will push off and fall to the support line (the lower channel line).
The target is 135.362.
--------------------------
Share your opinion in the comments and support the idea with likes.
Thank you for your support!
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