RLinda ! USDJPY-> waiting for a reversal pattern...
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USDJPY continues to fall, the price observes the boundaries of the descending range. The currency pair is testing channel support and forming a pullback. What's next?
The trend is descending and the priority is to expect a fall in price, but at the moment we see a forging of the ascending set-up, the nearest target of which might be the resistance at 131.25. Counter-trend trading is always a big risk. The priority is waiting for the continuation of falling prices from the resistance of the descending channel.
I expect strengthening of the price to the resistance area of 131.25 and formation of reversal pattern. Liquidity and support area of 127.45 will be the sales target.
Regards R.Linda!
The trend is descending and the priority is to expect a fall in price, but at the moment we see a forging of the ascending set-up, the nearest target of which might be the resistance at 131.25. Counter-trend trading is always a big risk. The priority is waiting for the continuation of falling prices from the resistance of the descending channel.
I expect strengthening of the price to the resistance area of 131.25 and formation of reversal pattern. Liquidity and support area of 127.45 will be the sales target.
Regards R.Linda!
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