USD/JPY: 'Hammer' right above the 'Window'

USD/JPY: 'Hammer' right above the 'Window'

Information is not investment advice

The last 'Engulfing' pattern led to the current decline. At the same time, there's a 'Hammer' right above the 'Window', so we're likely going to have a local upward correction towards the upper 'Window' (111.09). The subsequent pullback from this level could lead to another decline towards the next support at 108.13.

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USD/CAD firstly formed a bullish “engulfing” candlestick on the W1 and then confirmed the upside by the following strong bullish candlestick.

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