CADJPY will return to strong support/ Fall

٩ فبراير ٢٠٢١

During the growth in the growing channel, the price came to the resistance zone.
This channel was formed in July last year, but the price has frequently tested its lines.
During the growth, the price was able to break through the strong support 81.7.

This is the strong line of 2015.
Until the end of January 2021, the price never broke through this line.
This is an important breakout on the chart.
However, after rising from the line, the price came to the strong resistance zone 82.7.
In this zone, the channel line and the resistance line of August 2020 intersect.
I expect the price to fall.
First, because the zone is strong enough.
Secondly, because I expect consolidation from strong support.
The target is 81.51.


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