USD/JPY: bullish "Hammer"

USD/JPY: bullish "Hammer"

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There are a "Doji" and an "Engulfing", which both have been confirmed. In this case, the price is likely going to get resistance in the middle of the last huge black candle. If a pullback from this level arrives afterwards, there'll be an option to have another bearish price movement.

2605usdjpyH1.png

The 89 & 144 Moving Averages have acted as resistance, so we've got an "Inverted Hammer". Therefore, we're likely going to have an upward correction, but bears are still nearby, so there's a chance to have a new local low afterwards.

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