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    USD/JPY: "Doji" points to a local upward movement

    USD/JPY: "Doji" points to a local upward movement

    There’s a “Doji” in the nearest support line, which has been confirmed enough. So, the market is likely going to reach the nearest resistance during the day, which could reverse a price movement in the direction of the last low. As we can see on the Daily chart, here’s a confirmed bearish “Engulfing”. The last candles are bearish and there isn’t any reversal pattern so far, which makes possible an achievement the nearest “Window”.

    USD/JPY: "Doji" points to a local upward movement

    We’ve got an “Engulfing” at the local low, which has a good conformation. Also, there’s a “Doji” at the local low, so the pair is likely going to get a support on the 55 Moving Average. If a pullback from this line happens afterward, bears will probably try to return into the market.


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