USD/JPY: bearish "High Wave"

USD/JPY: bearish "High Wave"

2112usdjpyH4 (1).png

There's a "Shooting Star", which has been formed at the last local high. However, this pattern doesn't have confirmation so far. Therefore, we could have just a local bearish correction towards the Moving Averages.

2112usdjpyH1 (1).png

We've got a bearish "High Wave", but confirmation of this pattern is a quite weak. So, we should keep an eye on the 89 Moving Average as the next intraday target. If a pullback from this line happens little later on, there'll be an opportunity to have another bullish price movement.



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