USD/JPY: bullish "Three Methods" pattern

USD/JPY: bullish "Three Methods" pattern


There's a bullish "Three Methods" pattern, which has been confirmed enough. So, the market is likely going to continue moving up in the short term. If any bearish pattern forms afterwards, there'll be an option to have a decline in the direction of the nearest support.


The lower "Window" has acted as support, but there's a bearish "Harami", which has been formed at the last local high. In this case, bears are likely going to test the closest support level, which could be a departure point for another upward price movement.




Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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