CADJPY 15 03 2021
Price in Feb touched the support line at 84.80, after which it fell sharply and came to the next support at 73.72. This line became the trend line for an uptrend that has been going on for over a year. During this time, the price broke through the 85.66 support during the growth, fixed on it and continued to grow. Immediate resistance on the price path is a strong zone formed by the 2007 level and resistance line! Therefore, I expect that from a strong support the price will continue to rise and touch the resistance zone at 89.15, after which it will reverse and fall again. Thus, my final target is the support line at 85.78.
Price in Feb touched the support line at 84.80, after which it fell sharply and came to the next support at 73.72. This line became the trend line for an uptrend that has been going on for over a year. During this time, the price broke through the 85.66 support during the growth, fixed on it and continued to grow. Immediate resistance on the price path is a strong zone formed by the 2007 level and resistance line! Therefore, I expect that from a strong support the price will continue to rise and touch the resistance zone at 89.15, after which it will reverse and fall again. Thus, my final target is the support line at 85.78.