USD/JPY: bearish "Tower"

USD/JPY: bearish "Tower"

1311usdjpyH4 (1).png

The 21 & 34 Moving Averages are acting as resistance, so there's a bearish "Harami" pattern, which has been confirmed enough. Therefore, the price is likely going to get support on the lower "Window" in the short term.

1311usdjpyH1 (1).png

The price has been consolidating under the Moving Averages. Also, there's a bearish "Tower", which has been confirmed by the last "Three Methods" pattern. So, the market is likely going to continue declining 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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