USD/JPY: bulls going to deliver deeper correction
We’ve got a “Hammer” and a “Harami” at the last lows, which both have been confirmed. So, bulls are likely going to test the nearest resistance line. As we can see on the Daily chart, there’s an “Inverted Hammer”, so an upward correction has a reason to be continued.
There’re an “Engulfing” and a “Three White Soldiers”. Also, we’ve got a strong resistance by the 34 Moving Average. Under this circumstances, the main intraday target is the 89 Moving Average.