What happened? Japanese shares fell on Monday…
USD/JPY: "Engulfing" on the 34 Moving Average
2019-11-11 • Updated
We've got an "Engulfing" pattern on the 34 Moving Average, so bears are likely going to continue pushing the price lower. The main intraday target is the lower "Window".
Bulls faced resistance on the 144 Moving Average, so there's a bearish "High Wave" pattern, which has been confirmed. In this case, the market is likely going to continue falling down.
Weaker dollar - cheaper dollar. What else may be a conclusion to be drawn from the USD's weakening?
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