DeGRAM

USDJPY fix on support and start grow

Long
FOREXCOM:USDJPY   U.S. Dollar / Japanese Yen
Last time we talked about a rise in the price and it really started to grow, but halfway down again fell to the support zone.
I regard this movement as consolidation towards the zone that precedes future growth.
Now the price is in a long downtrend, which began in the spring of this year
This is a standard situation when at some point in the middle of the channel a support-resistance zone forms, correcting the price movement.
This is what happened now.
In addition, this zone has price touches outside the channel (during false breakouts).
This is a good support area.
Therefore, taking the price rollback as a correction, I continue to expect the price to rise.
Now she has almost touched the zone.
I expect it to touch it (around 104.150) and start to grow.
The target is the resistance line 104.966.

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