There was a notable reversal in the stock market on Wednesday. Have you noticed the reversal chart patterns?
USD/JPY: price to test nearest support
There're bearish patterns such a 'Shooting Star' and a 'Harami', which both have been confirmed. In this case, it's likely that the price is going to test the nearest support at 110.51 in the coming days. If a pullback from this level happens next, bulls will probably try to reach the upper 'Window' (112.65), which could be a starting point for a downward correction.
The USD made decisive moves mostly with the exotic currencies - let's have a look to prepare for new market entries.
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