USD/JPY: pair going to break the last low

USD/JPY: pair going to break the last low

2411usdjpyH4 (1).png

The price is still consolidating, but we don't have any reversal pattern so far. In this case, the pair is likely going to break the last low. If any bullish pattern forms afterwards, the 21 Moving Average will be the next target.

2411usdjpyH1 (1).png

There's resistance by the middle of the last huge black candle. Also, we don't have any confirmed reversal pattern. So, the market is likely going to continue declining.




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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