USD/JPY: market consolidating between Moving Averages

USD/JPY: market consolidating between Moving Averages

2206usdjpyH4 (1).png

The market is consolidating between the Moving Averages. Previously, we had a 'Three Black Crows'. So, we should keep an eye on the closest resistance at 110.30 as a possible starting point for a decline.

2206usdjpyH1 (1).png

There's a bullish 'Engulfing', which has been confirmed. So, the pair is likely going to achieve the next resistance at 110.30. If a pullback from this level happens little later on, there'll be a moment for a bearish price movement in the direction of the nearest support at 109.58.



Latest news

XAU/USD: an attempt to recover

After forming a “hammer” candlestick on the D1 on Tuesday, XAU/USD rose to $1,467 and consolidated between this level and $1,461.

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