EURJPY falling to support line

2020年11月27日

In June, the price entered a long uptrend, which ended only at the resistance level 126.760.
After that, the price did not move far from the level for some time, returning to it after corrections.
But now a downward trend is clearly outlined.
It is also not very uniform, with a large number of pullbacks and corrections.
While the price drop is stopped by the support line formed in June 2020.
However, a resistance line also formed in October.
And, despite the fact that this is a very young line, it is very strong.
The price had 4 touches of this line and all 4 ended in a trend reversal.

Recently, the price touched the resistance line at 124.481 and began to fall (this is already clearly visible).
I expect that the decline will continue and the price will come to the support line.
Target - 122.302.

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