USD/JPY: "Belt Hold" points to a possible upward correction
We’ve got a “High Wave” on the closest “Window” area. So, if it confirms, the price likely going to achieve the nearest resistance level shortly. As we can see on the Daily chart, there’s an “Engulfing”, which has been confirmed strongly. Therefore, the current downward correction is likely going to be continued.
There’re a “Belt Hold” and a “Harami” at the last low. So, the market is likely going to reach the nearest resistance line during the day, which could reverse the price movement into a bearish direction.