USD/JPY: "Window" stopped bearish rally
We’ve got a “Harami” and an “Inverted Hammer” patterns at the local low. Also, there’s a “Tweezers” pattern, which has been strongly confirmed. So, the market is likely going to get a resistance on the 13 Moving Average in the short term. As we can see on the Daily chart, the bearish trend is still alive, so the current upward movement could be just a correction.
There’s an “Engulfing”, which has been formed on the lower “Window”. If we see a pullback from the nearest resistance, the price is likely going to test the “Window” once again. At the same time, if a pullback from this level happens, there’ll be an opportunity to have a new local high.