USD/JPY: "Window" made a very good job
There’re a “Hammer” and a “Harami” on the last “Window”, which strongly supported bulls. Moreover, a “Mat Hold” has been formed afterwards, so the market is likely going to reach the 89 Moving Average in the short term. As we can see on the Daily chart, the last “Harami” pattern hasn’t been confirmed, so bulls are absolutely free to move on until any reversal pattern arrives.
The price has been rising since a “Hammer” was formed on the Moving Average line. It’s important that bulls has broken the very strong resistance level. It was the fourth attempt, in fact. So, there’s an opportunity for a local correction. Overall, bulls have enough power to move the market higher in the coming days.