USD/JPY: very strong support by "Window"
The price has been falling down since a “Shooting Star” formed at the last high. So, the market is likely going to test Moving Averages in the short term. If we see a pullback from these lines, there’ll be a chance to have more bearish pressure. As we can see on the Daily chart, the 13 and 21 Moving Averages acted as a resistance. Also, there’s a “Shooting Star”, which has been strongly confirmed. Therefore, bears are likely going to push the market lower.
There’s a strong support by the couple of “Windows”. Moreover, we’ve got an “Inverted Hammer” here, but it hasn’t been confirmed yet. So, bulls are likely going to test the 144, 89 and 55 Moving Averages during the day. If we see a pullback from this lines, there’ll be an opportunity to have a new low.