USD/JPY: lower "Window" acting as support

USD/JPY: lower "Window" acting as support

1512usdjpyH4 (1).png

There's a bearish "Three Methods" pattern, which has been confirmed. Also, we don't have any reversal pattern so far. In this case, the price is likely going to continue declining towards the next support area.

1512usdjpyH1 (1).png

The lower "Window" is acting as support. Moreover, there's a bullish "Hammer", which hasn't been confirmed yet. So, the pair is likely going to test the nearest Moving Average, which could be a departure point for another bearish price movement.




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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