USD/JPY: bearish 'Three Methods' pattern

USD/JPY: bearish 'Three Methods' pattern

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The last 'Evening Star' and 'High Wave' patterns led to the current decline. The main bearish target is the 34 Moving Average, which could be a starting point for another upward price movement.

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There's a bearish 'Three Methods' pattern, but the price faced with support on the Moving Averages. In this case, we could have a local correction in the short term. Nevertheless, there's an opportunity to have another decline afterwards.

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Narrowing bearish Ichimoku Cloud with rising Senkou Span A; a dead cross of Tenkan-sen and Kijun-sen, but rising Tenkan-sen; the bulls could breakout the Kijun’s resistance.

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