What happened? Japanese shares fell on Monday…
USD/JPY: 'Hammer' pattern on the 34 MA
2019-11-14 • Updated
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.
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.
Weaker dollar - cheaper dollar. What else may be a conclusion to be drawn from the USD's weakening?
In a few days, primary Forex currencies will hear what their respective central banks think about the future - and we're about to trade it!
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