USD/JPY: bullish 'Engulfing'

USD/JPY: bullish 'Engulfing'

3007usdjpyH4 (2).png

There's a bullish 'Engulfing', so the price is rising. It's likely that the pair is going to test the 34 or 55 Moving Average shortly. A pullback from one of these lines could be a departure point for another decline.

3007usdjpyH1 (2).png

We've got a local 'Shooting Star', so there's a green light for a local decline. However, if a pullback from the closest support at 110.93 happens next, bulls will probably try to reach the next resistance at 111.34.



Latest news

GBP/USD: confirmed "Thorn" pattern

The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...


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