USD/JPY: bullish "Hammer"

USD/JPY: bullish "Hammer"

2908usdjpyH4-1.png

The price reached the lower "Window", so we could have any reversal pattern soon. If so, bulls are likely going to test the 21 Moving Average. However, if a pullback from this line happens, we could have the market even lower.

2908usdjpyH1-1.png

There's a bullish "Hammer", but confirmation of this pattern is quite weak. In this case, the 55 Moving Average is likely going to act as resistance in the coming hours.

jpy

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