What happened? Japanese shares fell on Monday…
USD/JPY: bears going to push price even lower
2019-11-11 • Updated
The main trend is still bearish. Also, there’s a “Three Methods” pattern, which hasn’t been confirmed yet. Therefore, the price is likely going to get a resistance on the nearest “Window”, which could be a departure point for another decline. So, we could have a new local low soon.
As you can see on the one-hour chart, there’s a local bullish “Hammer” at the last low. At the same time, if any bearish pattern arrives on the nearest resistance level in the coming hours, there’ll be an opportunity to have another decline.
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