USD/JPY: bears going to deliver new low
The main trend is still bearish. There’re a “Harami” and a “Tower” on the 34 Moving Average, so the bears are likely going to move on. As we can see on the Daily chart, we’ve got an “Engulfing”, which has been confirmed. Also, there isn’t any reversal pattern so far, which makes possible to see more seller’s pressure.
The price has been falling down since a “Shooting Star” arrives at the last high. Considering a local “Hammer”, there’s an opportunity to have an intraday correction. However, bears are likely going to deliver a new low soon.