What happened? Japanese shares fell on Monday…
USD/JPY: bullish "Engulfing" pattern
2019-11-11 • Updated
The price fixated above the "Window", so there's a bullish "High Wave" pattern, which hasn't been confirmed yet. In this case, the pair is likely going to continue moving up towards the nearest resistance.
We've got a bullish "Engulfing" pattern, so the price is rising. However, if a pullback from the upper "Window" happens, there'll be an opportunity to have a local bearish correction.
Weaker dollar - cheaper dollar. What else may be a conclusion to be drawn from the USD's weakening?
In a few days, primary Forex currencies will hear what their respective central banks think about the future - and we're about to trade it!
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