USD/JPY: 'Engulfing' and 'Harami' patterns

USD/JPY: 'Engulfing' and 'Harami' patterns

0404usdjpyH4 (1).png

There's a bearish 'Tower' pattern, which has been confirmed. Therefore, the market is likely going to test the nearest support once again. A pullback from this area could be a starting point for an upward price movement.

0404usdjpyH1 (1).png

We've got a bearish 'Engulfing' and 'Harami' patterns, so the pair is declining. It's likely that the price is going to reach the next support area in the coming hours.




Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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