What happened? Japanese shares fell on Monday…
USD/JPY: Moving Averages acted as resistance
2019-11-11 • Updated
All the Moving Averages have acted as resistance, so the price is declining. The main intraday target is the lower 'Window' (110.20). If a pullback from this level happens next, we're going to have a bullish correction.
There's a bullish 'Tower', but confirmation of this pattern isn't enough. So, the closest 'Window' (110.76) is going to act as support once again. If so, we should keep an eye on the 34 Moving Average as an intraday target.
Weaker dollar - cheaper dollar. What else may be a conclusion to be drawn from the USD's weakening?
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