What happened? Japanese shares fell on Monday…
USD/JPY: bearish "Engulfing
2019-11-11 • Updated
We've got a bearish "Engulfing", but confirmation of this pattern is a quite weak. So, we could have just a local correction. In this case, bulls are likely going to break the last high once again.
There are a "Harami" and a "High Wave" patterns, which both have been formed at the local high. Therefore, the 55 Moving Average is likely going to act as support during the day.
Weaker dollar - cheaper dollar. What else may be a conclusion to be drawn from the USD's weakening?
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