USD/JPY: "Shooting Star" pattern

USD/JPY: "Shooting Star" pattern


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.



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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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