USD/JPY:  bearish "Three Methods" pattern

USD/JPY: bearish "Three Methods" pattern

2702usdjpyH4 (1).png

There's a bullish "High Wave", so the price is rising. It's likely that the pair is going to test the 55 Moving Average soon. If a pullback from this line happens, we could have another decline.

2702usdjpyH1 (1).png

The price is consolidating along the Moving Averages. Also, there's a bearish "Three Methods" pattern, so we're likely going to have a downward correction in the short term. However, if any bullish pattern forms little later on, there'll be a green light for an upward price movement towards the nearest resistance area.



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