CADJPY GROW in pattern
As I expected in my previous analysis, the price did not have the strength to break through the strong resistance line that has existed since 2015.
Therefore, the price fell to the support line and now we can see that it is ready to rise.
Now the price is in the Wedge pattern, between the intersecting support and resistance lines. The first touch of the resistance line was back in February this year.
This pattern is characterized by "price decay" - smaller fluctuations between the lines.
Therefore, now I expect the price to rise to a strong point of resistance - at the intersection of two lines - 80.331.
Traders, if you liked this idea or have your opinion on it, write in the comments. I will be glad👩💻
Therefore, the price fell to the support line and now we can see that it is ready to rise.
Now the price is in the Wedge pattern, between the intersecting support and resistance lines. The first touch of the resistance line was back in February this year.
This pattern is characterized by "price decay" - smaller fluctuations between the lines.
Therefore, now I expect the price to rise to a strong point of resistance - at the intersection of two lines - 80.331.
Traders, if you liked this idea or have your opinion on it, write in the comments. I will be glad👩💻
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