There' a "V-Top" pattern, so the pair is likely going to test the closest support at 1.3996 - 1.3979. Meanwhile, if a pullback...
USD/JPY: new "Window"
There's a new "Window", but we still don't have any reversal pattern. So, the price is likely going to continue falling down towards the lower "Window". If any bullish pattern arrives later on, there'll be an opportunity to have a bullish price movement.
The last pullbacks from the upper "Window" led to form a new local low. It's likely that the market is going to test the nearest support, which could be a departure point for an upward correction.
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.