What happened? Japanese shares fell on Monday…
USD/JPY: bullish "Hammer"
2019-11-11 • Updated
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.
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.
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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