USD/JPY: "Hammer" and "Belt Hold"

USD/JPY: "Hammer" and "Belt Hold"

2408usdjpyH4-1.png

There's a developing consolidation. The 34 & 55 Moving Averages are acting as resistance. In this case, the market is likely going to test the upper "Window" once again. If a pullback from this level happens afterwards, bears will probably try to reach the lower "Window".

2408usdjpyH1-1.png

We've got bullish patterns such a "Hammer" and a "Belt Hold" at the local low, which both have been confirmed by the last "Three Methods". So, bulls are likely going to push the price even higher during the day.

jpy

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