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

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