Lingrid

USDJPY GROWT after breakdown

Long
FOREXCOM:USDJPY   U.S. Dollar / Japanese Yen
At the beginning of the month, the currency pair came to the support line 102.88 - the lower border of the descending channel . She made a false break, but returned to the line again, pushed away from it and showed excellent growth.

During this rally at the end of last week, the price broke through the 104.03 support line. Thus, it left the descending channel in which it had been falling since June 2020.

After the breakdown of the support line, the price began to rise. And despite the fact that while it makes many rollbacks during the growth, I am sure that it will continue. Since now the 2020 line gives the price good support.

Now I expect the price to continue to rise and eventually come to a strong resistance zone . This zone is formed by the intersection of the resistance level and the line from November 2020. Thus, our final target is the 104.72 resistance zone .

Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
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Comments

Hey, thanks for sharing! Here's my bearish view on USDJPY instead.

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Great review! Thanks Lingrid.
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Lingrid miketiger
@miketiger, welcome)
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Of course, leap to resistance line
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Lingrid DeGRAM
@DeGRAM, 😉
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you my favorite trader. lingrid
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Lingrid TradingAlchemist
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A line crossing is ahead. This is a good sign for a DOWN!
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Lingrid Solldy
@Solldy, time will tell
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@Lingrid 😂😂..Time has tell..You analysed Up and it's going down 😂😂😂Shit analysis 😤😤
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