USD/JPY: 55 Moving Average acted as support

USD/JPY: 55 Moving Average acted as support

2019-11-11 • Updated

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The 55 Moving Average has acted as support, so there's an 'Engulfing' pattern. In this case, the market is likely going to achieve the next 'Window' (112.27) within the next few hours.

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There's a 'Dark Cloud' pattern, which hasn't been confirmed yet. So, there's a moment to wave a local correction towards the closest support at 111.48. If a pullback from this level arrives next, we're going to have a bullish price movement in the direction of 112.27.

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