USD/JPY: new local high is coming soon because of "Harami"
The biggest bearish candle has a huge shadow. Also, there’s a bullish “Harami”, which has been confirmed. So, the price is likely going to get a resistance by the 34 Moving Average in the short term. If a pullback from this line happens, there’ll be an opportunity for another bearish price movement. As we can see on the Daily chart, the nearest resistance is still in the game, which can bring a bearish pattern afterwards.
There’s a local correction in progress under the already closed “Window”. Moreover, we’ve got a “Harami” at the local low as well as a support by the 21 Moving Average. Therefore, bulls are probably going to move on, so we should keep an eye in the 144 Moving Average as a possible intraday target.