What happened? Japanese shares fell on Monday…
USD/JPY: "Inverted Hammer" at the last low
2019-11-11 • Updated
There's a "Tweezers" pattern at the local high, but the last bullish "Hammer" is still on the table. Therefore, the market is likely going to rise towards the Moving Averages in the coming hours.
We've got an "Inverted Hammer" at the last low, which has been confirmed enough. Also, there's a bearish "Tweezers", so bears are likely going to test the nearest support level during the day. If a pullback from this level happens, bulls are going to deliver a new high.
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!
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