What happened? Japanese shares fell on Monday…
USD/JPY: "Window" acted as support
2019-11-11 • Updated
The last bullish "High Wave" pattern has been confirmed, so the price reached the 21 Moving Average. However, the pair is likely going to test the next 34 MA. If a pullback from this line happens afterwards, there'll be an opportunity to have a decline towards the nearest support level.
The lower "Window" has acted as support, so we're going to have a bullish correction. The main intraday target is the 34 Moving Average, which could be a departure point for another decline.
Weaker dollar - cheaper dollar. What else may be a conclusion to be drawn from the USD's weakening?
In a few days, primary Forex currencies will hear what their respective central banks think about the future - and we're about to trade it!
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