【ETHJPY】The downward band-walk continues

In the post dated August 5, titled “What happens after the support-resistance turned into resistance for ETHJPY?” we noted the daily chart’s triangle consolidation where a downside break could occur, speculating whether price would halt near around 450,000 yen or extend further downward. In reality, from August 7 the decline accelerated, breaking the downside along the -2σ line of the Bollinger Bands, establishing a strong downward momentum. It even surpassed the March 27 low, effectively pushing into a space with no notable support candidates. As long as the band walk does not stop, the downside movement will continue.