USD/JPY: "Engulfing" pushing price towards "Window"
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There’s a bearish “Engulfing”, but a confirmation of this pattern is a quite weak. Therefore, the price is likely going to reach the 89 Moving Average. If we see a pullback from this line, bulls are likely going to deliver a new local high.
The lower “Window” has acted as a support, but the last bearish “Engulfing” pattern is still on the table. Under this circumstances, the pair is likely going to test the “Window” once again during the day.