USD/JPY: "Window" acted as support

USD/JPY: "Window" acted as support

1511usdjpyH4 (1).png

The lower "Window" has acted as support, but there isn't any bullish pattern so far. However, we could have a local upward correction, but bears are likely going to continue to push the price even lower afterwards.

1511usdjpyH1 (1).png

The price is still declining, but there's a bullish "Hammer" at the local low. Meanwhile, this pattern hasn't been confirmed yet, so there's an option to have just a local correction. Therefore, we're likely going to have another decline pretty soon.




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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