USD/JPY: "Gravestone Doji" put bulls to bed with a shovel
There’s a “Gravestone Doji” and a “Tower” at the last high, which led to the dramatically fast downward movement. The last candles are bearish, but if the price gets a support on the 144 Moving Average, there’ll be an opportunity for a local bullish correction. As we can see on the Daily chart, there’s a “Harami” at the last top, so today’s candle is going to be black.
The price has came back under the 2014’s maximum. Moreover, the 144 Moving Average has been broken right after a “Three Methods” pattern arrived. So, the pair is likely going to test the nearest support, which can bring any kind of bullish pattern.