USD/JPY: "Shooting Star Doji" pattern

USD/JPY: "Shooting Star Doji" pattern

1407usdjpyH4-1.png

The 21 Moving Average is acting as resistance. All the last candles are bearish, so there isn't any reversal pattern so far. Therefore, the pair is likely going to test the lower "Window" in the short term.

1407usdjpyH1-1.png

There's a "Shooting Star Doji", so the price is declining. In this case, the 144 Moving Average is likely going to act as support. If we see a pullback from this line, bulls will have a green light to return to the market.

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