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DeGRAM
Dec 3, 2020 9:04 AM

USDJPY fix on support and start grow Long

U.S. Dollar / Japanese YenFOREX.com

Description

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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Comments
ukiretoops
Appreciate your hard work!
Cerberus1
Amazing thank you so much!
hazerumukon
Very hard work. Thanks for the premium-grade materials. Upvoted
Trader_Dale
Hi DeGRAM,

I must be a contrarian here looking for more shorts:



Hope you don't mind me sharing. :)

Cheers,
-Dale
Lingrid
good one 👍
DeGRAM
@Lingrid, Thank you
drkashifshahzad6
yes very good analysis...it have gone way down..
InkyGrip
Thanks for nice point of view 🦐💪🏻
DeGRAM
@plancton0618, You are welcome
jerukaseliks
Thanks for sharing good idea
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