USD/JPY: "Tweezers" and "Engulfing" patterns

USD/JPY: "Tweezers" and "Engulfing" patterns

0910usdjpyH4-1.png

We've got a "Tweezers" and an "Engulfing" patterns, which both have been formed at the local high. So, the 34 Moving Average is likely going to act as support soon. If a pullback from this line happens, we could have another bullish rally.

0910usdjpyH1-1.png

The price is still consolidating, cause the 144 Moving Average is acting as support. In this case, the pair is likely going to test the upper "Window", which could be a departure point for another decline.

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