What happened? Japanese shares fell on Monday…
USD/JPY: "High Wave" pattern
2019-11-11 • Updated
There's an "Inverted Hammer", but confirmation of this pattern is a quite weak. So, we could have just a local upward correction in the short term. Nevertheless, bears are likely going to test the lower "Window" afterwards.
The last "High Wave" pattern is still unconfirmed. Therefore, the market is likely going to decline during the day. Anyway, bulls will probably try to test the Moving Averages little later on.
Weaker dollar - cheaper dollar. What else may be a conclusion to be drawn from the USD's weakening?
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