USD/JPY: bears champ at the bit to the "Window"
There’s a reversal “Shooting Star” under the 34 Moving Average. Previously, Monday's “Window” has been closed by the last white candles. However, the market is likely going to test this “Window” once again. If bulls gets a support on it, there’ll be an open door for an upward movement. As we can see on the Daily chart, there’s a correction in progress, which brought a “Hanging Man” at the last high.
We’ve got a “Belt Hold” and an “Engulfing” at the local high, which led to the current decline. Also, there’s a possible bullish “Hammer”, so the market is likely going to show us a local rise towards the nearest resistance. If the price gets a resistance on this level, bears will probably take a chance to reach Monday’s “Window”.