What happened? Japanese shares fell on Monday…
USD/JPY: 'Belt Hold' pushed pair higher
2019-11-11 • Updated
The market has been rising since the last 'Belt Hold' was formed. There's no any reversal pattern so far, which means we should keep an eye on the next resistance at 111.46 as a starting point for a local downward correction.
All the last candles are bullish. However, it's likely to have a correction towards the nearest support at 111.18. If we have a pullback from this level, there'll be an opportunity to have a bullish price movement towards another resistance at 111.46.
Weaker dollar - cheaper dollar. What else may be a conclusion to be drawn from the USD's weakening?
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