USD/JPY: "High Wave" gave bulls a free hand
The price tested the middle of the last huge black candle once again, so we’ve got a “Shooting Star”, but it hasn’t been confirmed yet. So, the pair is likely going to reach the nearest support line. As we can see on the Daily chart, the nearest “Window” acted as a support, so the market is likely going to reach the 34 Moving Average. If we see a pullback from this line, bears will probably try to move on.
We’ve got an “Engulfing” at the local low, which led to the current upward movement. So, there’s an opportunity to see a local correction, but bulls will likely try to test the last high once again.