USD/JPY: "Tweezers" and "Hammer"

USD/JPY: "Tweezers" and "Hammer"


There's a possible "Three Methods" pattern, so the current local correction is likely going to end soon. Previously, a "Shooting Star" pattern has been formed on the 89 Moving Average. In this case, we could have a new local low pretty soon.


There are bullish patterns such a "Tweezers" and a "Hammer", but both of them haven't been confirmed yet. So, we could have just a local correction towards the 34 Moving Average. If a pullback from this line happens, bears are going to break the last low.




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…

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