USD/JPY: confirmed bullish "Engulfing"

USD/JPY: confirmed bullish "Engulfing"

0408usdjpyH4-1.png

There's a "Hammer", which has been formed on the lower "Window". If this pattern confirms, the pair is likely going to test the 21 Moving Average, which could be a departure point for another decline.

0408usdjpyH1-1.png

The last bullish "Engulfing" pattern has been confirmed, so the market is likely going to rise in the short term. The main intraday target is the 55 Moving Average and the nearest "Window".

jpy

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