USD/JPY: bullish "Engulfing"

USD/JPY: bullish "Engulfing"

1903usdjpyH4 (2).png

There's a bullish "Engulfing", which hasn't been confirmed enough. So, we could have just a local correction towards the Moving Averages. If a pullback from these lines happens little later on, there'll be a moment for another decline.

1903usdjpyH1 (2).png

The 55 Moving Average has acted as resistance, so there's a "Shooting Star". However, confirmation of this pattern is quite weak, so bulls are likely going to test the next resistance in the short term.



Latest news

GBP/CAD is insatiable

GBP/CAD has broken above the ascending triangle, which is now providing support in the 1.7100/1.7060 area.

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