What happened? Japanese shares fell on Monday…
USD/JPY: confirmed bullish "Hammer"
2019-11-11 • Updated
The 89 Moving Average has acted as support, so we've got a "Hammer" and a "Tweezer" patterns. So, bulls are likely going to test the nearest "Window" in the short term.
The last bullish "Hammer" has been confirmed. However, there's a pullback from the Moving Averages, so we could have a local correction during the day. Nevertheless, bulls will probably try to deliver a new local high afterwards.
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!
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