USD/JPY: new "high wave" arrived
The market has been rising since an “Engulfing” and a “High Wave” arrived at the last low. In case we’ve got a “Mat Hold”, the upward correction has a reason to be continued. It’s a still possible to see a local downward correction, but then bulls are probably going to reach the 89 Moving Average. As we can see on the Daily chart, the price broke the last “Window” once again, so it’s likely that today’s candle will close above it.
There’s a bullish movement on the one-hour chart. Moreover, the pair has found a lodgement above the 144 Moving Average. We've got a “High Wave” at the last maximum, but it hasn't confirmed yet. So, the downward correction is a likely possible, but then bulls are probably going to set up a new rally, which can going on until any bearish pattern forms.