USD/JPY: 55 Moving Average acted as support

Read the article on FBS website

0308usdjpyH4.png

The 55 Moving Average has acted as support, so there's an 'Engulfing' pattern. In this case, the market is likely going to achieve the next 'Window' (112.27) within the next few hours.

0308usdjpyH1.png

There's a 'Dark Cloud' pattern, which hasn't been confirmed yet. So, there's a moment to wave a local correction towards the closest support at 111.48. If a pullback from this level arrives next, we're going to have a bullish price movement in the direction of 112.27.

Share with friends:

Similar

Latest news

Instant opening

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.