USD/JPY: main target is 89 MA

USD/JPY: main target is 89 MA

2003usdjpyH4 (1).png

The pair has been rising since the last "Engulfing" pattern formed. The main target is the 89 Moving Average. If a pullback from this line happens little later on, there'll be a moment for another decline.

2003usdjpyH1 (1).png

There's a bearish "High Wave" pattern, which hasn't been confirmed yet. So, if a pullback from the Moving Averages happens, bulls are likely going to test the upper "Window".

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The main intraday target is the next resistance at 113.53, which could be a starting point for a bearish correction...

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