USD/JPY: bullish "Engulfing"

USD/JPY: bullish "Engulfing"

2019-11-11 • Updated

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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.

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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.


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