Market Overview

USD/JPY Technicals – 3 Black Crows seen at 61.8% Fib Retracement

Hourly Chart

http://forexblog.oanda.com/mserve/USDJPY_191112H1Tweet.PNG

Price rallied early Monday morning before BOJ's monetary policy meeting. However price begin falling after touching 81.60 briefly, forming 3 Black Crows candlestick pattern in the process.

Daily Chart

http://forexblog.oanda.com/mserve/USDJPY_191112D1.PNG

The significance of the 3 Black Crows bearish reversal is furthered by the 61.8% Fib Retracement acting as resistance.

 

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