USD/JPY: bears still in the game

USD/JPY: bears still in the game


There isn't any reversal pattern so far, which means the nearest support level is likely going to be tested once again. If any bullish pattern arrives later on, there'll be an opportunity to have an upward price movement towards the Moving Averages.


We've got an "Inverted Hammer", but this pattern hasn't been confirmed yet. Therefore, the upper "Window" is likely going to act as resistance in the coming hours. If so, we could have another decline.




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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