USD/JPY: bulls found a lodgement above the “Window"
The previously formed “Harami” and “Three Methods” have done a great job, so the price reached the 34 Moving Average. So, it’s likely to see a support by the nearest “Window”. If it happens, bulls are likely going to achieve 55 Moving Average shortly. As we can see on the Daily chart, here’s an “Engulfing” at the last low, so the market is likely going to test the nearest resistance line, which is strong enough to reverse the price movement into a downward direction.
The price has been rising since a “Hammer” arrived at the local low. Moreover, bulls have found a lodgement above the nearest “Window”. In this case, the pair is likely going to rise until any reversal pattern arrives.