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    USD/JPY: "Harami" has kicked off the bullish correction

    USD/JPY: "Harami" has kicked off the bullish correction

    There’s a “High Wave” at the last low, which has been confirmed enough. Therefore, the market is likely going to get a resistance on the nearest “Window”. If so, bears will probably try to deliver a new low afterwards. As we can see on the Daily chart, the “Window” could act as a resistance as well. Because of we haven’t got any reversal pattern so far, bears are still all around.

    USD/JPY: "Harami" has kicked off the bullish correction

    The price has found a lodgement under the last “Window”, but we have a “Hammer” at the local low. Considering a “Three Methods” pattern, the pair is likely going to get a resistance on the 21 Moving Average. If we see a pullback from this line, bears will probably continue their rally.


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