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

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After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.

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