USD/JPY: bearish "Engulfing

USD/JPY: bearish "Engulfing


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.




Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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