USD/JPY: "Tower" pushing price higher

USD/JPY: "Tower" pushing price higher

3005usdjpyH4.png

Resistance by the middle of the last huge black candle is still on the table. Also, we’ve got a “Hammer”, which hasn’t been confirmed yet. So, the pair is likely going to test the 21 Moving Average which could be a departure point for another decline.

3005usdjpyH1.png

The upper “Window” is acting as resistance, so there’s a bearish “Harami” pattern, which has weak confirmation. Therefore, the nearest support is likely going to be tested again. If a pullback from this level happens, bulls will probably try to deliver a new local high.

jpy

Similar

Bitcoin (BTC/USD) opening the doors for a lower extension

As we had anticipated in previous reports, Bitcoin has finally made a break of the important level of support at 12,852 and is now on track to reach the Fibonacci level of 0% at 10,680, which could mean a bearish continuation that will allow to…

Popular

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…

promotions you can be interested in

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera