USD/JPY: 'Tweezers' pushed the price lower

USD/JPY: 'Tweezers' pushed the price lower

0506usdjpyH4 (1).png

There's a 'Shooting Star', which has been formed on the upper 'Window'. In this case, the market is likely going to test the 89 Moving Average (109.32), which could be a departure point for another bullish price movement.

0506usdjpyH1 (1).png

We've got a 'Tweezers', so the price is declining. The main intraday target is the 55 Moving Average (109.31). If a pullback from this line happens afterwards, bulls will probably try to test the upper 'Window'.



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