USD/JPY: "High Wave" pattern

USD/JPY: "High Wave" pattern

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The last "High Wave" pattern led to the current upward price movement. Meanwhile, if a pullback from the nearest resistance happens, we could have a downward correction towards the Moving Averages.

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There's still no any reversal pattern, so bulls are likely going to test the upper "Window" in the coming hours. If a pullback from this level happens afterwards, there'll be an opportunity to have a bearish correction.



USD/JPY: "Doji" pattern

The 21 Moving Average acted as resistance, so the pair is likely going to test the lower "Window" soon...


Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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