USD/JPY: bullish "Hammer"

USD/JPY: bullish "Hammer"

1610usdjpyH4-1.png

The 89 Moving Average is acting as support, so we've got a bullish "Hammer" on this line. Therefore, the pair is likely going to test the 34 MA, which could act as resistance.

1610usdjpyH1-1.png

There's a bullish "Hammer", so the market is likely going to test the Moving Averages in the coming hours. If a pullback from these lines happens, there'll be an opportunity to have a new local low.

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