NZDJPY start new GROWTH after touch SUPPORT
For this currency pair, quite noticeable price fluctuations have been characteristic lately - strong growth spikes alternating with equally strong falls.
For example, the support line, which has existed since August 2020, the price has broken twice over the past three months - both during an increase and during a fall.
The last breakdown, due to the strong growth, occurred just at the elections in the USA, after which the price did not begin to fall, it was fixed on the 71.8 support line. And in the course of fairly steady growth, it was able to break through the nearest support line 73.2. Then it came to the resistance line 74.1.
The price has been moving between these support and resistance lines since the beginning of December, that is, for a little over two weeks.
Now she pushed off against the resistance and almost touched the support. And I expect the flat movement between the lines to continue. Since the zone at the intersection of the two support lines is very strong, one of the lines was formed here back in 2017, and the price is unlikely to be able to break through it.
The price will touch the support 73.1 and then rise to the resistance - 74.1.
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
For example, the support line, which has existed since August 2020, the price has broken twice over the past three months - both during an increase and during a fall.
The last breakdown, due to the strong growth, occurred just at the elections in the USA, after which the price did not begin to fall, it was fixed on the 71.8 support line. And in the course of fairly steady growth, it was able to break through the nearest support line 73.2. Then it came to the resistance line 74.1.
The price has been moving between these support and resistance lines since the beginning of December, that is, for a little over two weeks.
Now she pushed off against the resistance and almost touched the support. And I expect the flat movement between the lines to continue. Since the zone at the intersection of the two support lines is very strong, one of the lines was formed here back in 2017, and the price is unlikely to be able to break through it.
The price will touch the support 73.1 and then rise to the resistance - 74.1.
Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩💻
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