USD/JPY: "High Wave" and "Hammer"

USD/JPY: "High Wave" and "Hammer"


The price is consolidating, but we've got bullish patterns like a "High Wave" and a "Hammer". Therefore, the market is likely going to reach the nearest resistance level in the short term.


The upper "Window" has acted as resistance, so there's a bearish "Harami", which hasn't been confirmed yet. In this case, the price is likely going to test the 34 Moving Average, which could be a departure point for another bullish rally.



Latest news

GBP/USD: confirmed "Thorn" pattern

The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...


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