USD/JPY:  "Harami" and "Three Methods"

USD/JPY: "Harami" and "Three Methods"

2507usdjpyH4-1.png

There are bullish patterns such a "Harami" and a "Three Methods", which both have been confirmed. So, the market is likely going to reach the 55 Moving Average in the short term.

2507usdjpyH1-1.png

The price reached the 55 Moving Average, but we don't have any reversal pattern so far. In this case, the price is likely going to continue moving up during the day. However, we could have a local bearish correction in the next few hours.

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Bulls faced with resistance at 1.2029, so the price is likely going to decline towards the nearest support area at 1.2003 - 1.1975...

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