It's been a long time since we got back to this pair, have we?
My last forecast for it was October 8 - and it came true. I would like to remind you of the latest forecasts that have come true, so that together we can remember the price movement over the past months.
September 24 September 29 October 8
What happens to the price in November? At the very beginning of the month, it showed a growth spurt to the resistance line, after which it fell sharply. This happened literally in two trading days.
The fall in prices this time was stopped by the support line. This is a pretty strong line formed in December 2019. The chart shows that it served as a barrier preventing the price from falling for a whole year - and during this time there were only minor breakouts.
Therefore, even now I expect that the price will not be able to fall below this line. She will push herself away from her and start growing. Thus, our target is the resistance line.
Traders, if you liked this idea or have your opinion on it, write in the comments. I will be glad👩💻
Your prediction was correct, and it happened much quicker. Do you know what caused the JPY to shrink yesterday? It happened with all other currencies XXX/JPY?