【ETHJPY】What is the outlook after the support-resistance flip?
In the post dated August 4th titled "[ETHJPY] Breaking the downside support," I mentioned that within the triangular consolidation formed on the daily chart, a downside break occurred and a support-resistance flip was assumed to occur, and I wanted to observe the future movement. The Bollinger Bands have moved from squeeze to expansion and are descending along the -2σ line. At present, I want to focus on whether it will continue to walk the band, whether it can stop its decline around the current roughly 450,000 yen, or whether it will extend further to the downside.
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