USD/JPY:  "Harami" led to decline

USD/JPY: "Harami" led to decline

2407usdjpyH4-1.png

The price has been declining since a "Harami" pattern formed. Also, there isn't any reversal pattern so far, which means bears are likely going to test the next support level in the short term. If any reversal pattern arrives afterwards, bulls will probably try to deliver an upward correction.

2407usdjpyH1-1.png

The last bearish "Shooting Star" pattern led to the current decline. However, we've got a bullish "Doji", but this pattern hasn't been confirmed yet. So, we could have just an upward correction and a decline afterwards.

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