USD/JPY: bulls going to test MA

Read the article on FBS website

2905usdjpyH4.png

We've got a "Hammer" at the last local low, but a confirmation of this pattern is a quite weak. So, the price is likely going to test the 55 Moving Average in the coming hours. However, if a pullback from this line arrives afterwards, bulls will probably try to test the nearest resistance.

2905usdjpyH1.png

The 34 Moving Average has acted as resistance, but we've got a bullish "Harami", which hasn't been confirmed yet. Therefore, the pair is likely going to test the closest resistance, which could be a departure point for another bearish price movement.

Share with friends:

Similar

Latest news

Instant opening

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.