USD/JPY: bearish 'Tower'

USD/JPY: bearish 'Tower'

2019-11-11 • Updated

1104usdjpyH4 (2).png

The 144 Moving Average has acted as resistance, but there's a 'High Wave' pattern, which has been confirmed. Therefore, the market is likely going to test the Moving Averages, which could be a starting point for another upward price movement.

1104usdjpyH1 (2).png

We've got a bearish 'Tower', so the price is likely going to test the 89 Moving Average. However, if we see a pullback from this line, bulls are likely going to reach the next resistance area.


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