USD/JPY: 'Three Methods' pattern still in force
If a pullback from the nearest resistance at 111.62 happens little later on, bears will probably try to test the lower 'Window'...
USD/JPY: market consolidating along Moving Average
The market is still consolidating along the Moving Average. The main intraday target is the lower 'Window' (110.94). A pullback from this level could be a starting point for another bullish price movement.
The last 'Shooting Star' led to the current decline. It's likely that the pair is going test the next support at 110.94. If a pullback from this level happens next, there'll be a moment for an upward price movement in the direction of the closest significant resistance 111.74.
Galya Svetlova
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