USD/JPY: 21 MA acted as resistance

USD/JPY: 21 MA acted as resistance

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The 21 Moving Average has acted as resistance, so the price is declining. The main bearish target is the lower "Window". If a pullback from this level happens, we could have an upward correction afterwards.

0703usdjpyH1 (1).png

There's a bullish "Hammer", so there's an opportunity to have a local upward correction. Meanwhile, if a pullback from the Moving Averages happens little later on, bears will probably try to deliver a new local low.



GBP/USD: bullish "Flag"

The pair is going to continue moving up in the direction of another resistance at 1.4144 - 1.4277...



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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