USD/JPY: "Window" acted as a support
There’s a bullish “High Wave” at the local low, but it hasn’t been confirmed yet. So, it’s likely that the price is going to test the nearest resistance level once again. If we see a pullback from this resistance, there’ll be an opportunity to have the next bearish rally. As we can see on the Daily chart, the pair found a lodgement under the last “Window”, so bears will probably try to move on.
We’ve got a support by the closest “Window” and also there’s an “Inverted Hammer” at the last low. This pattern confirmed enough, so it’s likely to see an upward correction in the short term. However, sellers will possibly test the “Window” once again, which can bring more reversal patterns.