USD/JPY: 34 Moving Average acted as support

USD/JPY: 34 Moving Average acted as support

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The upper "Window" is acting as resistance, so we've got a bearish "Doji" pattern, which has been confirmed. In this case, the pair is likely going to test the nearest Moving Averages, which could be a departure point for another bullish rally.

2806usdjpyH1.png

The 34 Moving Average has acted as support, so there's a bullish "Engulfing" pattern. So, we could have a local upward price movement and a decline afterwards. The main bearish target is 55 & 89 Moving Averages.

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