USD/JPY: "High Wave" pattern

USD/JPY: "High Wave" pattern

0602usdjpyH4 (2).png

The lower "Window" has acted as support once again, so we've got a "High Wave" pattern. So, we're likely going to have an upward correction soon. If a pullback from the Moving Averages happens little later on, we could have another decline.

0602usdjpyH1 (2).png

There's a bearish "Engulfing", so the market is likely going to decline during the day. Nevertheless, bulls will probably try to test the Moving Averages afterwards.



Latest news

GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.


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