USD/JPY: "Hammer" led to bullish rally

Read the article on FBS website

1303usdjpyH4 (1).png

The last bullish "Hammer" led to the current upward price movement. There's no any reversal pattern, so we should keep an eye on the 89 Moving Average, which could act as resistance. If so, there'll be time for a bearish correction.

1303usdjpyH1 (1).png

There's no any bearish pattern because all the last candles are bullish. Also, the price has broken the "Window", which acted as resistance many times before. So, it's likely that the pair is going to test this "Window", which could act as support this time.

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.