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    USD/JPY: "Two Crows" led to the correction

    USD/JPY: "Two Crows" led to the correction

    There're an “Evening Star” and a “Two Crows” at the last high. The price has come back under the Moving Average lines and reached the nearest support line. It's possible to see a local correction and the following decline afterwards. As we can see on the Daily chart, here's an “Engulfing Bearish” at the local high, so today the market is likely going to form a black candle.

    USD/JPY: "Two Crows" led to the correction

    We’ve got a “Hanging Man” at the last high, which has been confirmed enough. During the current decline a “Three Methods” pattern has been formed. Considering that we have a “Harami” at the last low, the price is likely going to a local upward correction. At the same time, if the Moving Average lines act as a resistance, then bears will have a chance to bite the last minimum.

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