USD/JPY: lower 'Window' acted as support

USD/JPY: lower 'Window' acted as support

1704usdjpyH4 (2).png

There's a bullish 'Hammer', which formed on the 34 Moving Average. So, the pair is likely going to test the nearest resistance in the short term.

1704usdjpyH1 (2).png

The lower 'Window' acted as support, so we're likely going to have an upward correction soon. Nevertheless, if a pullback from the nearest resistance happens little later on, there'll be a moment for another decline.




Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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