What happened? Japanese shares fell on Monday…
USD/JPY: bullish 'Hammer'
2019-11-11 • Updated
We've got a bullish 'Hammer', which has been confirmed. Also, there's no any reversal pattern so far, which means the price is going to continue rising in the direction of the 144 Moving Average.
The last bullish 'Harami' led to the current upward price movement. Meanwhile, if a pullback from the nearest resistance happens little later on, there'll be an opportunity to have a local correction.
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!
Bullish Scenario: Buys above 17910 with TP:18098.07, TP2:18277, and TP3: 18415 Bearish Scenario: Sells below 17850 with TP1:17730, TP2: 17700
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