What happened? Japanese shares fell on Monday…
USD/JPY: consolidation along the 34 MA
2019-11-11 • Updated
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.
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.
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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