What happened? Japanese shares fell on Monday…
USD/JPY: "Window" acting as support
2019-11-11 • Updated
The "Window" is acting as support, so we've got a bullish "Harami", which has been confirmed. Therefore, the market is likely going to test the closest resistance once again. If a pullback from this level happens, there'll be an opportunity to have another decline.
The price is consolidating along the 89 Moving Average, so there's a bearish "Doji", but this pattern hasn't been confirmed yet. In this case, we could have a local decline and a new high afterwards.
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!