USD/JPY:

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

2019-11-11 • Updated

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.

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