EURJPY near strong resistance - fall
In early December, during a strong growth, the price broke through the support line 125.337 and continued to grow.
I expect it to complete its rally when it touches the resistance level.
This is a historically strong level.
The price moves along it, sometimes above the rounder, using it as a support, then below the level - as recently.
If you draw a line between all the price highs since 2007, it becomes clear that the price is in a global downtrend.
And right now the trend line is crossing the level line.
I doubt that the price will be able to break through such resistance.
I expect it to first touch the resistance zone 126.852.
And then it will fall to the support line 125.474.
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Share your opinion in the comments and support the idea with likes.
Thank you for your support!
I expect it to complete its rally when it touches the resistance level.
This is a historically strong level.
The price moves along it, sometimes above the rounder, using it as a support, then below the level - as recently.
If you draw a line between all the price highs since 2007, it becomes clear that the price is in a global downtrend.
And right now the trend line is crossing the level line.
I doubt that the price will be able to break through such resistance.
I expect it to first touch the resistance zone 126.852.
And then it will fall to the support line 125.474.
------------------------
Share your opinion in the comments and support the idea with likes.
Thank you for your support!
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