USDJPY 19 03 2021
This growth is based on a small support line, which also formed in January. The last time the price bounced off this line at 105.19 was at the end of February and the momentum was enough for a strong growth. During the growth, the price broke through the support level 108.40 and eventually came to a strong resistance zone at 109.32. In this zone, the price consolidated by touching it twice and, as a result, reversed again in the fall. I expect the price to continue falling from the strong resistance zone. It will be able to break through the 108.40 support level, gain a foothold on it, and eventually come to the 107.18 support line. This will be our goal.
This growth is based on a small support line, which also formed in January. The last time the price bounced off this line at 105.19 was at the end of February and the momentum was enough for a strong growth. During the growth, the price broke through the support level 108.40 and eventually came to a strong resistance zone at 109.32. In this zone, the price consolidated by touching it twice and, as a result, reversed again in the fall. I expect the price to continue falling from the strong resistance zone. It will be able to break through the 108.40 support level, gain a foothold on it, and eventually come to the 107.18 support line. This will be our goal.