USD/JPY: "Window" acted as support

9 September 2016, 16:04
Eko Rediantoro

There’s a possible “Doji” pattern, which has a strong confirmation. Also, the current “Three Methods” pattern is going to end soon. In this case, it’s likely to have an achievement of the nearest resistance in the short term. If we see a pullback from this level, bears are likely going to move on.

As we can see on the one-hour chart, there’s a “High Wave” on the last low. Moreover, we’ve got a quite strong support by the nearest “Window”. Therefore, the market is likely going to test the 89 and 55 Moving Averages during the day. If a pullback from these lines happens, there’ll be an opportunity to have another upward price movement.

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