The market is going to test the closest support at 1.4069 - 1.4027. If a pullback from these area happens little later on...
USD/JPY: Moving Averages acting as resistance
We've got a bullish "Hammer", which hasn't been confirmed yet. So, the price is likely going to test the closest support once again. Nevertheless, bulls will probably try to reach the 55 Moving Average afterwards.
All the Moving Averages are acting as resistance. Also, there's a confirmed bullish "Harami", so we could have a local decline. At the same time, there's an opportunity to have a new local high afterwards.
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.