USD/JPY: lower 'Window' acted as support

USD/JPY: lower 'Window' acted as support

2019-11-11 • Updated

2307usdjpyH4.png

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.

2307usdjpyH1.png

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.

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