What happened? Japanese shares fell on Monday…
USD/JPY: "Shooting Star" pattern
2019-11-11 • Updated
The price is still consolidating. Also, there's a bullish "Engulfing" on the 55 Moving Average, but this pattern remains unconfirmed. So, the price is likely going to continue moving down until any reversal pattern arrives.
We've got a "Shooting Star" pattern, which has been formed on the 55 & 89 Moving Averages. In this case, the pair is likely going to test the nearest support area during the day.
Weaker dollar - cheaper dollar. What else may be a conclusion to be drawn from the USD's weakening?
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