What happened? Japanese shares fell on Monday…
USD/JPY: "Tower" led to decline
2019-11-11 • Updated
The price is still consolidating. Also, there's a "Hanging Man", which has been formed at the last local high. So, the 34 Moving Average is likely going to act as support. If so, we could have another bullish rally afterwards.
The last "Tower" pattern led to the current decline. Meanwhile, if any bullish pattern forms on the lower "Window", there'll be an opportunity to have an upward price movement towards the nearest resistance area.
Weaker dollar - cheaper dollar. What else may be a conclusion to be drawn from the USD's weakening?
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