USD/JPY: bearish 'High Wave' pattern

USD/JPY: bearish 'High Wave' pattern

0208usdjpyH4.png

There's a bearish 'High Wave', which has been confirmed enough. So, the market is likely going to achieve the nearest support at 111.27. A pullback from this level could be a starting point for another upward price movement towards the upper 'Window' (112.27).

0208usdjpyH1.png

The market is moving sideways. There's a 'Shooting Star', but this pattern hasn't been confirmed enough. So, the price is likely going to test 111.75 one again. If we have a pullback from this level next, bears will probably try to reach the next support at 111.27.

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