Open account Log in

USD/JPY: "Tower" led to decline

Read the article on FBS website

0410usdjpyH4-1.png

The price is still consolidating. Also, there's a "Hanging Man", which has been formed at the last local high. So, the 34 Moving Average is likely going to act as support. If so, we could have another bullish rally afterwards.

0410usdjpyH1-1.png

The last "Tower" pattern led to the current decline. Meanwhile, if any bullish pattern forms on the lower "Window", there'll be an opportunity to have an upward price movement towards the nearest resistance area.

Share with friends:

Similar

Latest news

Instant opening

This website is owned and operated by Mitsui Markets Ltd. Address: 133 Santina Parade, Elluk, Port Vila, Efate, Vanuatu.

Mitsui Markets Ltd. does not offer financial services to residents of certain jurisdictions, including, but not limited to: the USA, the EU, the UK, Israel, the Islamic Republic of Iran, Myanmar.


Payment transactions are managed by НDС Technologies Ltd.; Registration No. HE 370778; Legal address: Arch. Makariou III & Vyronos, P. Lordos Center, Block B, Office 203, Limassol, Cyprus. Additional address: Office 267, Irene Court, Corner Rigenas and 28th October street, Agia Triada, 3035, Limassol, Cyprus.


Risk warning: Before you start trading, you should completely understand the risks involved with the currency market and trading on margin, and you should be aware of your level of experience.

Any copying, reproduction, republication, as well as on the Internet resources of any materials from this website is possible only upon written permission.


The information on this website does not constitute investment advice, a recommendation, or a solicitation to engage in any investment activity.

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