USD/JPY: bulls are up to deliver only small correction
The price has been falling down since Monday. Also, we’ve got a “Three Methods” pattern, which increased bearish pressure. So, the market is likely going to decline until any bullish pattern arrives. As we can see on the Daily chart, there’s a lower “Window”, which could act as a support.
We’ve got another “Three Methods” on the one-hour chart. However, the price achieved a resistance line, so there’s an opportunity to have some bullish patterns. If so, there’ll be a chance to see a local correction towards the 13 Moving Average, which is strong enough to help bears to move on.