USD/JPY: bearish 'Three Methods' pattern

USD/JPY: bearish 'Three Methods' pattern

2019-11-11 • Updated

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The last 'Evening Star' and 'High Wave' patterns led to the current decline. The main bearish target is the 34 Moving Average, which could be a starting point for another upward price movement.

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There's a bearish 'Three Methods' pattern, but the price faced with support on the Moving Averages. In this case, we could have a local correction in the short term. Nevertheless, there's an opportunity to have another decline afterwards.


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