USD/JPY: bulls secure a foothold in the market
The pair has been rising since an “Engulfing Bullish” arrived at the last low. There’s a “Three Methods” pattern, but considering an achievement of the 89 Moving Average it's likely to see a decline towards the 34 Moving Average. As we can see on the Daily chart, we haven't got any reversal patterns, but the lower “Window” can act as a support once again.
There’s a bullish movement on the one-hour chart. We’ve got a bearish “Harami” and a “Three Methods” without any confirmation at the local high. So, it’s likely to see a local correction towards the nearest Moving Average lines. If a pullback appears, then bulls will have a chance to deliver a new high.