What happened? Japanese shares fell on Monday…
USD/JPY: "High Wave" and "Hammer"
2019-11-11 • Updated
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.
Weaker dollar - cheaper dollar. What else may be a conclusion to be drawn from the USD's weakening?
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