USD/JPY: "Shooting Star" led to decline

2019-11-11 • Updated

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The price has been declining since a "Shooting Star" pattern was formed on the Moving Averages. However, there's a bullish "Harami", so we could have a local upward correction in the short term. Anyway, bears will probably try to test the lower "Window" afterwards.

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The price is consolidating under the Moving Averages. Also, we've got an "Engulfing" pattern, so the market is likely going to test the closest resistance area, which could be a departure point for another decline.


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