What happened? Japanese shares fell on Monday…
USD/JPY: time for local bearish correction
2019-11-11 • Updated
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.
Weaker dollar - cheaper dollar. What else may be a conclusion to be drawn from the USD's weakening?
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