What happened? Japanese shares fell on Monday…
USD/JPY: "Window" acting as support
2019-11-11 • Updated
The last "Window" has been broken, but the price is consolidating. Also, we've got bearish patterns such a "Harami" and a "Doji", but both of them haven't been confirmed enough. So, the 144 Moving Average is likely going to act as support.
We've got a bearish "Engulfing" at the last high, but this pattern hasn't been confirmed, cause the lower "Window" is acting as support. So, the price is likely going to test the nearest support level, which could be a departure point for another bullish rally.
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!