USD/JPY: 34 Moving Average acted as support

USD/JPY: 34 Moving Average acted as support

0705usdjpyH4 (2).png

The 34 Moving Average has acted as support, so there's an 'Inverted Hammer'. Therefore, the market is likely going to reach the upper 'Window', which could be a departure point for a bearish correction.

0705usdjpyH1 (2).png

There's a 'Three Methods' pattern, so the price is rising. It's likely that the market is going to achieve the upper 'Window', which could act as resistance. If so, there'll be an opportunity to have a correction.



Latest news

XAU/USD: an attempt to recover

After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.

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