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

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


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.




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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