USD/JPY: "Engulfing" on the 34 Moving Average

USD/JPY: "Engulfing" on the 34 Moving Average

2308usdjpyH4-1.png

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".

2308usdjpyH1-1.png

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.

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