The price has been rising since a pullback from the nearest Moving Average happened. Also, there isn't any bearish pattern so far.
Daily Market Analysis
The price found resistance at 1.2757, so bears achieved support at 1.2705. In this case, the market is likely going to...
Bears faced support on the 34 MA. So, the pair is likely going to reach the next resistance at 1.1219 - 1.1227 during the day.
Expanding bullish Ichimoku Cloud, rising Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with rising Tenkan-sen and Kijun-sen; the prices are supported by Tenkan-sen and Kijun-sen.
Expanding bullish Ichimoku Cloud with rising Senkou Span A; a new golden cross of Tenkan-sen and Kijun-sen; the bulls entered to positive area passing through the Cloud’s resistance.
USD/JPY remains favored by the bullish bias, which strengthened after the formation of a bullish divergence in the RSI indicator two weeks ago…