NZD/JPY falling inside minor impulse wave C Next sell target - 76…
USD/JPY: "High Wave" on lower "Window"
There's a "High Wave" on the lower "Window", but this pattern hasn't been confirmed yet. In this case, the market is likely going to test the nearest Moving Averages in the coming hours.
The last bullish "Harami" pattern has been confirmed, so bulls are likely going to test the upper "Window" and all the Moving Averages in the short term. If a pullback from these levels arrives afterwards, there'll be an opportunity to have another decline.
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…
The 144 Moving Average has acted as support, but there's a bearish "Engulfing' at the local high.