USD/JPY: "Window" going to act as a resistance one more time
The price is consolidating near the “Window”. Also, there’s a possible “High Wave” pattern, so the market is likely going to test the 21 and 34 Moving Averages. At the same time, if a pullback from this line happens, bears will probably try to deliver a new low. As we can see on the Daily chart, the 13 Moving Average acted as a resistance, so the pair is going to reach the closest support line soon.
We’ve got a “Harami” at the local high, which has been strongly confirmed. However, there’s another “Harami” at the last low, so the price is likely going to test the nearest “Window” one more time.