USD/JPY: “Evening Doji Star” set up bearish correction
We’ve got a pullback from the upper “Window”, which brought bearish patterns such a “Doji”, an “Engulfing” and a “Three Black Crows”. Considering that all these patterns have been confirmed, there’s an opportunity to have a decline towards the nearest support line. As we can see on the Daily chart, there’s a possible “Dark Cloud” on the 34 Moving Average line. If this pattern confirms, bears will probably try to deliver a downward correction.
There’s an “Evening Doji Star” at the last high, which has a confirmation, so the market is likely going to falling down towards the nearest support. If we see a pullback from this line, there’ll be a chance to have another bullish rally.