USD/JPY: rare 'Dragon Doji' pattern

USD/JPY: rare 'Dragon Doji' pattern

0204usdjpyH4 (1).png

There's a bullish 'Doji', so the pair is likely going to test the nearest resistance. Meanwhile, bears are likely going to test the Moving Averages afterwards. However, if a pullback from this lines happens, there'll be a moment for another upward price movement.

0204usdjpyH1 (1).png

The 34 Moving Average is acting as support, so there's a pretty rare 'Dragon Doji' pattern. Nevertheless, if a pullback from the next resistance area happens in the coming hours, we could have a decline in the direction of the 89 Moving Average.

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