USD/JPY: 34 Moving Average acting as support

USD/JPY: 34 Moving Average acting as support

1405usdjpyH4 (1).png

The 34 Moving Average is acting as support, so there's a bullish 'High Wave' pattern. In this case, the market is likely going to test the upper 'Window' in the coming hours. A pullback from this level could be a departure point for a bearish correction.

1405usdjpyH1 (1).png

The price has broken all the Moving Averages. Meanwhile, if a pullback from the nearest resistance forms little later on, there'll be an opportunity to have a local downward correction towards the lower 'Window'.

jpy

Similar

AUD/USD on its way to reach new highs

AUD/USD has been trading in a rebound made from the 200 SMA at H1 chart, which is helping to strengthen the bullish bias across the board and put the pair in the scenario to reach the Fibonacci zone of -23…

Popular

Morning brief for June 2

Today’s news headline is that Trump officially announced the withdrawal of the US from the Paris climate agreement…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera