JPMORGAN: hammer formations
We know that hammer formation may be effective in identifying trend reversals. Let's study it a bit closer to see real-life cases.
GBP/JPY: 'Double Top' led to decline
The market has been declining since the last 'Double Top' formed. Also, there's a bearish 'Pennant' pattern, so it's likely that the market is going to reach the next support at 140.61 in the coming hours. The subsequent pullback from this level could lead to an upward correction towards the nearest resistance at 142.40 - 142.72.
Sergey Logachev
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JPMORGAN: hammer formations
We know that hammer formation may be effective in identifying trend reversals. Let's study it a bit closer to see real-life cases.
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