Analyzing the chart given using the support using Support & Resistance level and chart patterns. What does this chart pattern means? Is it bullish or bearish? Explain in technical analysis?

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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Analyzing the chart given using the support using Support & Resistance level and chart patterns. What does this chart pattern means? Is it bullish or bearish? Explain in technical analysis?

U.S. Dollar / Japanese Yen - 1D-FXCM-TradingView
138.477 0.6 138.480
Trendlines with Breaks [LuxAlgo] 14 1 Atr
1. EMA 4 Normal MA EMA 7 Normal MA EMA 11 Normal MA EMA 14 Normal MA EMA 17 Normal MA EMA 30 Normal MA EMA 35 Normal MA EMA 40 Normal MA EMA 45 Normal MA EMA 50 Normal MA 200 EMA Show Br
17
0139.573 H139.601 L138.043 €138.480 -1.093 (-0.78%)
May
Aug
Sep
Oct
Now
Dec
2023
Transcribed Image Text:U.S. Dollar / Japanese Yen - 1D-FXCM-TradingView 138.477 0.6 138.480 Trendlines with Breaks [LuxAlgo] 14 1 Atr 1. EMA 4 Normal MA EMA 7 Normal MA EMA 11 Normal MA EMA 14 Normal MA EMA 17 Normal MA EMA 30 Normal MA EMA 35 Normal MA EMA 40 Normal MA EMA 45 Normal MA EMA 50 Normal MA 200 EMA Show Br 17 0139.573 H139.601 L138.043 €138.480 -1.093 (-0.78%) May Aug Sep Oct Now Dec 2023
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