NZD/JPY falling inside minor impulse wave C Next sell target - 76…
USD/JPY: "High Wave" pattern
The last "High Wave" pattern led to the current upward price movement. Meanwhile, if a pullback from the nearest resistance happens, we could have a downward correction towards the Moving Averages.
There's still no any reversal pattern, so bulls are likely going to test the upper "Window" in the coming hours. If a pullback from this level happens afterwards, there'll be an opportunity to have a bearish correction.
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.