USD/JPY: 'Hammer' pattern on the 34 MA

USD/JPY: 'Hammer' pattern on the 34 MA

0405usdjpyH4 (1).png

There's a pullback from the 34 Moving Average, so we've got a 'Hammer' pattern. In this case, we could have a local upward correction. Anyway, the pair is likely going to test the lower 'Window' afterwards.

0405usdjpyH1 (1).png

There're bullish patterns such a 'High Wave' and 'Hammer', so the market is likely going to test the Moving Averages. If a pullback from these lines happens little later on, there'll be a moment for another decline.

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