USD/JPY: "Hammer" stopped bearish rally

USD/JPY: "Hammer" stopped bearish rally

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There's a "Hammer", which has stopped the last bearish rally. Considering yesterday's "Engulfing" pattern, the market is likely going to continue moving up towards the Moving Averages in the short term

1611usdjpyH1 (1).png

The price has reached the 34 Moving Average, but there isn't any reversal pattern for now. So, bulls are likely going to test the upper "Window", which could be a departure point for a short-term decline.

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USD/JPY: dollar is corrected to Kijun-sen

Expanding  bullish Ichimoku Cloud with rising Senkou Span A; a cancelled golden cross of Tenkan-sen and Kijun-sen; the prices are returned to the support of Tenkan and Kijun and may go higher.

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USD/JPY: dollar can’t breakout SSA’s resistance

Narrow bearish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen, but the lines are horizontal; the Bulls can’t breaking out the resistance of upper border of the Cloud and the market may return to 113.00.

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