USD/JPY: bullish "Hammer"

USD/JPY: bullish "Hammer"


We've got a bullish "Hammer", which has been confirmed. So, just after the local correction, the market is likely going to continue rising towards the nearest resistance area.


There are bearish patterns such a "Tweezers" and an "Engulfing", but both of them haven't been confirmed yet. In this case, the pair is likely going to test the 34 Moving Average in the short term. If a pullback from this line happens, we could have another bullish rally.




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