USDJPY 15 03 2021
USDJPY 15 03 2021
the price bounced off the 104.94 support line. After that, it grew rapidly, was able to break through the support level 108.40, and as a result, after consolidating at the level, it came to a strong resistance zone at 109.44. This area is formed by two resistance lines. The first is a small trend line that appeared in September 2020. The second is one of the strongest lines on the chart, formed at price peaks since 2015. Therefore, I expect that the price will reverse in the fall from this zone. It will break through the level, fix on it after the breakout and come to the support line 107.29. This will be our goal.
the price bounced off the 104.94 support line. After that, it grew rapidly, was able to break through the support level 108.40, and as a result, after consolidating at the level, it came to a strong resistance zone at 109.44. This area is formed by two resistance lines. The first is a small trend line that appeared in September 2020. The second is one of the strongest lines on the chart, formed at price peaks since 2015. Therefore, I expect that the price will reverse in the fall from this zone. It will break through the level, fix on it after the breakout and come to the support line 107.29. This will be our goal.
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