USD/JPY: "Shooting Star" points to a possible bearish correction
There’re a “Harami” and an “Engulfing” on the lower “Window”. Also, we’ve got a “Shooting Star” at the last high, but is hasn’t been confirmed yet. If it has later on, a local correction becomes possible. As we can see on the Daily chart, the price reached the previously tested resistance level, which could bring any bearish pattern.
We’ve got a “Tweezers” and a “Harami”, which both have been already confirmed. Therefore, the market is likely going to get a support on the 13 Moving Average. If a pullback from this line happens afterwards, there’ll be an opportunity to see another bullish rally.