USD/JPY: 21 & 34 MA acted as resistance

USD/JPY: 21 & 34 MA acted as resistance

2019-11-11 • Updated

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The 21 & 34 Moving Averages have acted as resistance, but there's still no any reversal pattern. So, the pair is likely going to test the 21 MA once again. If a pullback from this line happens little later on, there'll be an opportunity to have another bearish price movement.

2602usdjpyH1 (1).png

There's a bullish "Hammer", which has been confirmed enough, so the market is likely going to test the 21 Moving Average. If this line acts as resistance, bears will probably try to break the last low.

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