What happened? Japanese shares fell on Monday…
USD/JPY: 34 Moving Average acted as support
2019-11-11 • Updated
The upper "Window" is acting as resistance, so we've got a bearish "Doji" pattern, which has been confirmed. In this case, the pair is likely going to test the nearest Moving Averages, which could be a departure point for another bullish rally.
The 34 Moving Average has acted as support, so there's a bullish "Engulfing" pattern. So, we could have a local upward price movement and a decline afterwards. The main bearish target is 55 & 89 Moving Averages.
Similar
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!
Latest news
Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.
Bearish scenario: Sell below 1.0820 / 1.0841... Bullish scenario: Buy above 1.0827...
Bearish scenario: Sell below 2200 / 2194 ... Nearest bullish scenario: Buy above 2197... Bullish scenario after retracement: Consider buys around each indicated demand zone