What happened? Japanese shares fell on Monday…
USD/JPY: 'Inverted Hammer' on 34 Moving Average
2019-11-11 • Updated
There's a 'Shooting Star', which has been confirmed enough. In this case, the price is likely going to test the 34 Moving Average. If a pullback from this line happens little later on, there'll be an opportunity to have a new local high.
We've got an 'Inverted Hammer' on the 34 Moving Average, so the market is likely going to achieve the nearest resistance area. A pullback from it could be a departure point for a decline towards the 89 Moving Average.
Weaker dollar - cheaper dollar. What else may be a conclusion to be drawn from the USD's weakening?
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This week, there are a few high-probability trade ideas I'd like to recommend to you. Trading these setups, be sure to implement a proper risk management approach.
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