The 55 Moving Average has acted as a resistance, so there’re a “Shooting Star” and a “Doji”.
Tag - jpy - japanese yen
On the USD/JPY daily, the quotes reached the lower border of the downward trading channel, but, then, they returned 108…
The main trend is still bearish. Also, there’s a “Three Methods” pattern, which hasn’t been confirmed yet.
On the EUR/JPY daily chart, quotes fell to the lowest level since November 2016…
Geopolitical tensions sparked in the Middle East and Korean peninsula will still be supportive for the yen…
USD/JPY reached sell target 109…
We’ve got a “Shooting Star”, which has been confirmed enough. Therefore, the price is likely going to test the closest “Window”.
USD/JPY dropped to 108…
We’ve got a “High Wave” and a “Doji”, so the pair is likely going to test the nearest resistance.
If I asked you who is the main stirrer-up of markets…
The last bullish “Harami” doesn’t have a strong confirmation. In this case, the market is likely going to reach the closest resistance.
Bearish Ichimoku Cloud, falling Senkou Span A and B; a new dead cross of Tenkan-sen and Kijun-sen; the prices are made the new lows of the year.