USD/JPY: no any reversal pattern so far

USD/JPY: no any reversal pattern so far

0108usdjpyH4 (1).png

There's no any reversal pattern so far. However, we've got a 'Three Methods' pattern, so the market is likely going to test the upper 'Window' at 112.27. A pullback from this level could lead to a decline towards the Moving Averages.

0108usdjpyH1 (1).png

We've got a 'Hanging Man', so it's time for a local downward correction. The main intraday target is the nearest support at 111.86, which could be a starting point for another bullish rally.

jpy

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