USD/JPY: "Harami" brought the bearish correction
There’s a “Harami” at the last high, which has been confirmed enough, so the price reached the 144 Moving Average afterwards. The pair is likely going to achieve the middle of the last huge black candle. However, if a pullback from this level happens, bears will probably try to continue the current downward correction. As we can see on the Daily chart, we’ve got an “Engulfing”, but its confirmation is still on the way. Therefore, bears are going to achieve the 21 Moving Average soon.
We’ve got an “Engulfing” and a “Hammer” at the nearest strong support level. So, it’s likely to see a local correction during the day, but the next stage on the current bearish correction is still on the table.