USDJPY Pattern Analysis - Focus Remains Higher With Bearish Signals Lacking

USDJPY Pattern Analysis - Focus Remains Higher With Bearish Signals Lacking

13 November 2014, 09:11
BlondieNews
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USD/JPY has powered to higher in leaving Hanging Man formation to fall flat. With bearish signals lacking - the pair may be primed for further gains. Clearance of the nearby 115.90 hurdle could pave the way for an ascent on the October 07 high near 117.90 price.
A daily close below 114.50 would be required to warn of a top for the pair.

Tensions are running high in intraday trade, as evidenced by a string of Doji formation on the four hour chart. Yet a lack of more definitive reversal signals suggests the bulls may yet regain their grip on prices to lead the charge higher.

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