USD/JPY: consolidation along the 34 MA

USD/JPY: consolidation along the 34 MA

1506usdjpyH4.png

We've got a bullish "Engulfing", so the market is likely going to test the nearest resistance. If a pullback from this level happens, there'll be an opportunity to have another decline.

1506usdjpyH1.png

The price is consolidating along the 34 Moving Average. Considering that there isn't any bearish pattern so far, the pair is likely going to continue moving up towards the 144 Moving Average.

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