USD/JPY: "Shooting Star" pattern

USD/JPY: "Shooting Star" pattern


There's a "High Wave" pattern, which has been formed at the local high. So, there's an opportunity to have a downward correcting in the coming hours. However, if we see a pullback from the nearest support level, bulls will probably try to deliver a new local high.


We've got a "Shooting Star" pattern, which has been confirmed. Therefore, the pair is likely going to test the lower "Window" during the day. If a pullback from this level happens, there'll be an option to have another bullish price movement.




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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