What happened? Japanese shares fell on Monday…
USD/JPY: "Window" is waiting for bulls
2019-11-11 • Updated
There’re an “Engulfing” and a “Tweezers”, but both patterns have a weak confirmation. Therefore, bulls are likely going to test the nearest resistance in the short term. If a pullback from this level happens, there’ll be an opportunity to have a new low.
The last “Tweezers” led to an upward price movement, so the price achieved the Moving Averages. Also, there’s a “Harami”, so bears are likely going to deliver a local correction during the day. Nevertheless, bulls will probably try to reach the nearest “Window” afterwards.
Weaker dollar - cheaper dollar. What else may be a conclusion to be drawn from the USD's weakening?
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