FX:CADJPY Canadian Dollar/Japanese Yen
2 possible outcomes. If price breaks above resistance level, look for long opportunity. If price breaks below trendline, look for short opportunity.
U made me giggle, dont get offended.. in life there are only 2 possible outcomes.. same with financial markets... anyways, u r right.. as I see ur chart... if the thick red line is ema 200 or some important sr level then it is highly possible that price will go down... I dont trade currency.. I m into equity.. but charts reading is the same...
also if u note the pattern inside the channel..initially u will see lots of green outside bars or candles but as u progress upward u will notice the green outside or long body candles are getting shorter and the range of the flight of each pattern is getting shorter.. so momentum and volatility getting low.. combining with gann levels.. I believe the next move will be down.. But anything can happen..