USD/JPY: 34 Moving Average acting as support

USD/JPY: 34 Moving Average acting as support

2704usdjpyH4 (1).png

The last 'Doji' led to the current consolidation. Meanwhile, we've got a bullish 'High Wave', so the pair is likely going to test the upper 'Window', which could act as resistance.

2704usdjpyH1 (1).png

The 34 Moving Average is acting as support, but there's a bearish 'Hanging Man' pattern. So, the market is likely going to test the 34 MA once again. A pullback from this line could be a starting point for another upward price movement.

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