USD/JPY: 'Shooting Star' points to correction

USD/JPY: 'Shooting Star' points to correction


There's a 'Shooting Star', so there's an opportunity to have a local downward correction. In this case, we should keep an eye on the nearest support at 112.71 as a possible departure point for another bullish rally.


We've got a bearish 'High Wave'. So, the price is likely going to test the 34 Moving Average (112.71) shortly. If this line acts as support, bulls will probably try to reach the upper 'Window' (113.53).



Latest news

GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.


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