USD/JPY: bullish "Engulfing" pattern

USD/JPY: bullish "Engulfing" pattern


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.




Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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