USD/JPY: bears pushing aside all obstacles
The pair has been falling down since a “Three Methods” was formed. Therefore, the market is likely going to reach the nearest resistance, which could bring a reversal bullish pattern. If so, there’ll be an open door for a bullish correction. As we can see on the Daily chart, we haven’t got any reversal patterns so far. In this case, today’s candle is probably going to be black.
There's a “Harami” at the last low, so a local upward correction becomes possible. Its main target is the 21 Moving Average. If we see a pullback from this line, bears will likely going to deliver a new low.