What happened? Japanese shares fell on Monday…
USD/JPY: "Doji" pushing price higher
2019-11-11 • Updated
We’ve got a “Hammer” and a “Tweezers”, but a confirmation of both patterns is a quite weak. Therefore, the market is likely going to test the nearest support once again. If a pullback from this level happens, there’ll be an opportunity to have an upward price movement.
The 34 Moving Average is acting as a resistance. Also, we’ve got bullish “Doji”, which has been confirmed. Therefore, bulls are likely going to test the 55 Moving Average in the short term. If a pullback from this line happens, bears will probably try to test the nearest support one more time.
Weaker dollar - cheaper dollar. What else may be a conclusion to be drawn from the USD's weakening?
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