What comes to single currency, the price has broken ascending channel and is pulling back to it. It is possible that a jump-off away from the broken channel will happen to make the price go down until the level 1.1550, which is the height of broken channel:
As for the Yen, we have closely approached descending channel and formed bearish engulfing. Therefore, there is a chance for the pair to jump off from downtrend:
There might be two options forming:
The first one may imply forming a double bottom and breakdown of the level 0.7809, which serves as a pattern’s neckline while going down.
The second option could be a possible jump-off from the level 0.7809 and show pair growth. Thus, it would imply an appearance of a flat in the daily chart.
Двойная вершина – The double bottom