USD/JPY: "High Wave" and "Three Methods"

USD/JPY: "High Wave" and "Three Methods"

2006usdjpyH4.png

We've got a bearish "Harami" at the local high. Therefore, bears are likely going to test the 21 and 55 Moving Averages. If a pullback from these lines happens, there'll be an opportunity to have another upward price movement towards the upper "Window".

2006usdjpyH1.png

The last "Window" has been broken, but there're a "High Wave" and a "Three Methods" patterns, so the price is likely going to test this "Window" once again. If we see a pullback from this level, bulls will have an option to deliver a new local high.

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