What happened? Japanese shares fell on Monday…
USD/JPY: "High Wave" pattern
2019-11-11 • Updated
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.
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.
Weaker dollar - cheaper dollar. What else may be a conclusion to be drawn from the USD's weakening?
In a few days, primary Forex currencies will hear what their respective central banks think about the future - and we're about to trade it!