What happened? Japanese shares fell on Monday…
USD/JPY: bullish "Hammer"
2019-11-11 • Updated
There are a "Doji" and an "Engulfing", which both have been confirmed. In this case, the price is likely going to get resistance in the middle of the last huge black candle. If a pullback from this level arrives afterwards, there'll be an option to have another bearish price movement.
The 89 & 144 Moving Averages have acted as resistance, so we've got an "Inverted Hammer". Therefore, we're likely going to have an upward correction, but bears are still nearby, so there's a chance to have a new local low afterwards.
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