USD/JPY: "Window" entered the market into a correction phase
We’ve got a “Harami” at the last low. Moreover, the last black candle has a huge shadow, so the current correction is likely going to move on towards the nearest resistance line. As we can see on the Daily chart, the lowest “Window” has acted as a support. Therefore, bulls are probably going to form a white candle today.
The last “Window” has been closed. Also, we’ve got an “Engulfing” pattern, which points to a possible achievement of the 89 Moving Average. If we see a pullback from this line, there’ll be an opportunity to see a new bearish rally.