What happened? Japanese shares fell on Monday…
USD/JPY: bearish 'Tweezers' pattern
2019-11-11 • Updated
There's a bearish 'Tweezers' pattern, but the 34 Moving Average acted as support so that we could have a local bullish correction. Nevertheless, the pair is likely going to test the lower 'Window' afterwards.
The lower 'Window' is acting as support, so we've got a 'Harami' pattern. So, the market is likely going to reach the upper 'Window', which could be a departure point for another decline.
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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