chart suggests a potential rejection from the resistance zone with an anticipated downward move, as shown by the blue arrow. Key observations include:
Resistance Rejection: The price is struggling to break above the marked resistance zone, aligning with the downtrend's upper boundary.
Trend Continuation: The downward channel remains intact, implying the potential for the price to head lower if the rejection is confirmed.
Potential Target: The price may aim for the lower boundary of the channel, possibly testing support areas around 0.006300 or lower.
Are you considering entering a sell position here, or waiting for more confirmation? Let me know how you'd like Looking at the chart, here are potential targets based on the descending channel and price action:
1. **1st Target**: **0.006320** (near the middle of the channel and a minor support zone).
JPYUSD
2. **2nd Target**: **0.006300** (key support area aligning with the lower channel boundary).
3. **Final Target**: **0.006280** (bottom of the channel for a full move).
Keep an eye on how price behaves around the mid-channel zone; it could pause or bounce before reaching the lower levels. Would you like to adjust for risk management or trail the stop as the price moves?
Resistance Rejection: The price is struggling to break above the marked resistance zone, aligning with the downtrend's upper boundary.
Trend Continuation: The downward channel remains intact, implying the potential for the price to head lower if the rejection is confirmed.
Potential Target: The price may aim for the lower boundary of the channel, possibly testing support areas around 0.006300 or lower.
Are you considering entering a sell position here, or waiting for more confirmation? Let me know how you'd like Looking at the chart, here are potential targets based on the descending channel and price action:
1. **1st Target**: **0.006320** (near the middle of the channel and a minor support zone).
JPYUSD 2. **2nd Target**: **0.006300** (key support area aligning with the lower channel boundary).
3. **Final Target**: **0.006280** (bottom of the channel for a full move).
Keep an eye on how price behaves around the mid-channel zone; it could pause or bounce before reaching the lower levels. Would you like to adjust for risk management or trail the stop as the price moves?
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Free Signals With Technical Chart:
t.me/+JLFlD0eg3LFjNjU8
📞TELEGRAM ME
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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.
🟡 TELEGRAM CHANNEL:
Free Signals With Technical Chart:
t.me/+JLFlD0eg3LFjNjU8
📞TELEGRAM ME
@t.me/daniel9145
Free Signals With Technical Chart:
t.me/+JLFlD0eg3LFjNjU8
📞TELEGRAM ME
@t.me/daniel9145
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.