USD/JPY: 21 Moving Average acted as support

USD/JPY: 21 Moving Average acted as support


The 21 Moving Average has acted as support, so we've got a new local high. Also, bulls have broken the "Window" and we don't have any bearish pattern. So, the market is likely going to continue rising until any reversal pattern forms.


All the last candles are bullish, so there isn't any reversal pattern so far. The main intraday target is the upper "Window". If a pullback from this level happens, bears will have a green light to deliver a downward correction.




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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