USD/JPY: bullish correction on the way
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The 34 Moving Average has acted as a resistance, so we’ve got a “Doji” pattern on this line. Also, there’s a “Three Methods” pattern, so the market is likely going to the nearest support. If a pullback from this level happens, bulls will probably try to reach the next resistance on the 55 Moving Average.
We’ve got a “High Wave” and an “Engulfing” pattern at the last high. Therefore, bears are likely going to test the next support level, which could be a departure point for another upward price movement.