USD/JPY: "Window" going to act as resistance

USD/JPY: "Window" going to act as resistance

3110usdjpyH4-1.png

The 55 Moving Average has acted as support, so there are a "Hammer" and a "Doji" patterns on this line. So, the upper "Window" is likely going to act as resistance in the short term. If a pullback from this level happens little later on, there'll be an opportunity to have just another decline.

3110usdjpyH1-1.png

The price has been rising since an "Inverted Hammer" formed at the local low. So, bulls are likely going to reach the next "Window" in the coming hours. If a pullback from this level arrives, bears will try to deliver a downward price movement in the direction of the lower "Window".

jpy

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