The price has been in a bullish rally for almost the whole duration of the year. And from the look of it, it will keep growing as long as the JPY remains weak against other currencies.
Looking at the current price action, it can be clearly inferred that the price has nicely bounced off the level of previous resistance that has turned into support. At the same time, the same zone nicely lines up with the 0.618 Fibonacci retracement level.
Thus, we are pretty positive that the price will keep growing and reach the area of resistance indicated on the graph
Looking at the current price action, it can be clearly inferred that the price has nicely bounced off the level of previous resistance that has turned into support. At the same time, the same zone nicely lines up with the 0.618 Fibonacci retracement level.
Thus, we are pretty positive that the price will keep growing and reach the area of resistance indicated on the graph
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.