What happened? Japanese shares fell on Monday…
USD/JPY: bearish "Harami"
2019-11-11 • Updated
The 55 Moving Average has acted as support. However, there's also resistance by the upper "Window". In this case, the price is likely going to test the 89 MA. If a pullback from this line happens, we could have another bullish rally.
There's a bearish "Harami", which has been formed at the last local high. This pattern has been confirmed afterwards, so the price is likely going to test the nearest support level during the day.
Weaker dollar - cheaper dollar. What else may be a conclusion to be drawn from the USD's weakening?
In a few days, primary Forex currencies will hear what their respective central banks think about the future - and we're about to trade it!
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