USD/JPY: bearish 'Engulfing'

USD/JPY: bearish 'Engulfing'

1506usdjpyH4 (1).png

There's a bearish 'Engulfing', so the pair is likely going to reach the nearest support at 110.17. A pullback from this level could be a departure point for a bullish rally towards the upper 'Window' (110.99).

1506usdjpyH1 (1).png

The price is declining because of the last 'Dark Cloud' pattern. Also, there's a bullish 'High Wave'. In this case, it's likely that after a short break, the market is going to test the 55 Moving Average line.



Latest news

GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.


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