USD/JPY: bulls holding the fort
There’s a “Harami” at the local low, but its confirmation is weak, because the price movement hasn’t reached the middle of the last huge black candle. So, the current consolidation is likely going to move on. As we can see on the Daily chart, here’s a strong support by the 13 Moving Average. The bearish “Harami” and “Tower” haven’t been confirmed, so the price is free to continue the current upward movement until any bearish pattern arrives.
We’ve got a flat in progress in a range of the last black candle. The price reached the nearest support once again, so it’s possible to a rise in the short term. The main target is still the maximum, which was formed in 2014.