#CADJPY 01 04 2021
In 2021, there were two important breakdowns of the support lines at points 83.80 and 86.07. The first breakdown was in February, the second in March. And both of them speak of strong price growth. Since the first line, which the price broke in February, was formed in May 2013, and the second, which the price broke in March, appeared back in 2009! After the second breakout, the price fixed on the line and continued to grow. Now I expect it to reach the 89.15 resistance level first. Then it will turn around and return to the 86.63 support line. This will be our goal.
In 2021, there were two important breakdowns of the support lines at points 83.80 and 86.07. The first breakdown was in February, the second in March. And both of them speak of strong price growth. Since the first line, which the price broke in February, was formed in May 2013, and the second, which the price broke in March, appeared back in 2009! After the second breakout, the price fixed on the line and continued to grow. Now I expect it to reach the 89.15 resistance level first. Then it will turn around and return to the 86.63 support line. This will be our goal.