USD/JPY: "Hammer" pushed price higher

USD/JPY: "Hammer" pushed price higher

2012usdjpyH4 (1).png

The last "Hammer" pattern pushed the price higher. The main intraday target is the upper "Window". If a pullback from this level happens, there'll be an opportunity to have a decline.

2012usdjpyH1 (1).png

There's still no any reversal pattern on the one-hour chart. Meanwhile, it's likely to have a downward correction in the coming hours. At the same time, bulls will probably try to test the next resistance area afterwards.



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