What happened? Japanese shares fell on Monday…
USD/JPY: "Shooting Star" pattern
2019-11-11 • Updated
The upper "Window" has acted as resistance once again, so we've got a "Shooting Star". In this case, the market is likely going to test the nearest "Window", which could act as support.
We've got a "Hammer", which has been formed on the 34 Moving Average. So, bulls are likely going to test the closest "Window", which could be a departure point for a decline.
Weaker dollar - cheaper dollar. What else may be a conclusion to be drawn from the USD's weakening?
In a few days, primary Forex currencies will hear what their respective central banks think about the future - and we're about to trade it!
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