USD/JPY: lower 'Window' acted as support

USD/JPY: lower 'Window' acted as support

2506usdjpyH4.png

There's a bullish 'High Wave', which has been formed on the 144 Moving Average. So, the pair is likely going to test the closest resistance at 109.66. This level could be a departure point for a decline towards the next support at 109.24.

2506usdjpyH1.png

The lower 'Window' has acted as support, so we've got a 'Hammer' pattern. In this case, we should keep an eye on the nearest resistance at 109.66 as an intraday target. Meanwhile, if a pullback from this level forms next, bears will probably try to achieve another support at 109.24.

jpy

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