NZD/JPY falling inside minor impulse wave C Next sell target - 76…
USD/JPY: "High Wave" pattern
There's an "Inverted Hammer", but confirmation of this pattern is a quite weak. So, we could have just a local upward correction in the short term. Nevertheless, bears are likely going to test the lower "Window" afterwards.
The last "High Wave" pattern is still unconfirmed. Therefore, the market is likely going to decline during the day. Anyway, bulls will probably try to test the Moving Averages little later on.
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.