USD/JPY: 'High Wave' pattern

USD/JPY: 'High Wave' pattern

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The price has been rising since a 'High Wave' pattern formed at the last low. However, if the 89 Moving Average acts as resistance, there'll be a moment for another decline.

2803usdjpyH1 (1).png

The last 'Harami' pattern led to the current upward price movement. If any reversal pattern forms in the coming hours, there'll be an opportunity to have a bearish correction. Nevertheless, the pair is likely going to test the upper 'Window' afterwards.

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