USD/JPY: "Tweezers" and "Hammer"

USD/JPY: "Tweezers" and "Hammer"

2019-11-11 • Updated

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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.

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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.

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