USD/JPY: lower 'Window' acted as support

USD/JPY: lower 'Window' acted as support

0908usdjpyH4.png

The lower 'Window' acted as support, so there's a 'Hammer'. Therefore, the pair is likely going to reach the 21 & 34 Moving Averages (111.29) shortly. These lines could be a departure point for another decline towards the lower 'Window' (110.20).

0908usdjpyH1.png

We've got a bullish 'Hammer', which has been confirmed. So, we should keep on track the 89 Moving Average as an intraday target. If a pullback from this line happens afterwards, bears will probably try to test the next support at 110.20.

jpy

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