USD/JPY: time for local bearish correction

USD/JPY: time for local bearish correction


The last 'Shooting Star' hasn't been confirmed yet, so we could have just a local bearish correction. If we have another pullback from the closest resistance at 110.99, there'll be a moment for a decline.


There's a confirmed bearish 'Engulfing', so there's an opportunity to have a downward correction. The main intraday target is the next support at 110.55. A pullback from this level could be a departure point for a bullish rally.



Latest news

GBP/USD: confirmed "Thorn" pattern

The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...


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