USD/JPY: bearish "Tower"

USD/JPY: bearish "Tower"

0506usdjpyH4.png

There's a bearish "Tower" on the 144 Moving Average. However, we've got a pullback from a quite strong support level, so the middle of the last black candle is likely going to act as resistance. If a pullback from this level happens, the lower "Window" is going to be the next bearish target.

0506usdjpyH1.png

We've got a bullish "High Wave", but the last bearish "Shooting Star" has been confirmed strongly, so the pair is likely going to test the closest support in the coming hours. Meanwhile, if we see a pullback from this level, there'll be a green light for another bullish rally.

jpy

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