USD/JPY: price consolidating near "Window"

USD/JPY: price consolidating near "Window"

2610usdjpyH4-1.png

The price is consolidating near the "Window". The 55 Moving Average is likely going to act as support, which could be a departure point for another bullish price movement.

2610usdjpyH1-1.png

There's a bearish "Engulfing", which has been formed at the local high. So, the market is likely going to test the 89 Moving Average in the coming hours. If a pullback from this line happens afterwards, bulls will probably try to deliver another upward price movement.

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