What happened? Japanese shares fell on Monday…
USD/JPY: "Harami" pattern
2019-11-11 • Updated
We've got a "Harami" pattern, which just has been formed. Therefore, there's an opportunity to have a local upward correction, but bears will probably try to deliver a new local low afterwards.
There's a "Shooting Star", which has confirmation. In this case, the 34 Moving Average is likely going to act as support. If we see a pullback from this line, there'll be an opportunity to have another decline in the direction of the lower "Window".
Weaker dollar - cheaper dollar. What else may be a conclusion to be drawn from the USD's weakening?
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