USD/JPY:  price reached lower "Window"

USD/JPY: price reached lower "Window"


The middle of the last black candle has acted as resistance, so we've got a "Shooting Star" pattern. However, we could have a local upward correction in the short term. Nevertheless, bears are likely going to deliver a new local low afterwards.


The price reached the lower "Window", but there isn't any reversal pattern so far. In this case, we could have just a local bullish correction. Anyway, it's likely that the market is going to continue declining until any bullish pattern forms.




Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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