What happened? Japanese shares fell on Monday…
USD/JPY: lower 'Window' acted as support
2019-11-11 • Updated
The lower 'Window' acted as support, so there's a 'Morning Star' pattern. Therefore, the pair is likely going to reach the closest resistance at 111.87, which could be a starting point for another decline towards the next support at 110.20.
There's a bullish 'High Wave', so there's an opportunity to have an intraday upward correction. In this case, we should keep an eye on the nearest resistance at 111.87 as the next intraday target.
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!