USD/JPY: "Shooting Star" as a Bearish Sign
There's a “Deliberation” candle under the 89 Moving Average, but it hasn't been confirmed yet. So, after a while the price is likely going to rise. As we can see on the Daily chart, the pair reached the 50% Fibonacci retracement level. We haven’t got any reversal patterns so far and all last candles are bullish. Therefore, the market is likely going to achieve the nearest support and start rising afterwards.
We’ve got a “Shooting Star” at the local high, but its confirmation isn't enough. So, it’s likely to see more bearish patterns and a possible test of the maximum, which was formed in 2014.