What happened? Japanese shares fell on Monday…
USD/JPY: bearish "Doji"
2019-11-11 • Updated
The 55 Moving Average acted as a resistance, so we’ve got a “Doji” on this line. Considering a confirmation of this pattern, the market is likely going to test the nearest support. If a pullback from this level happens, there’ll be an opportunity to have an upward price movement towards the upper “Window”.
We’ve got a bearish “Tower”, but a confirmation of this pattern is on the way. So, the pair is likely going to test the 34 & 89 Moving Averages. Meanwhile, if we see a pullback from these lines, bulls will probably try to deliver a new local high.
Weaker dollar - cheaper dollar. What else may be a conclusion to be drawn from the USD's weakening?
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