USD/JPY: 'Shooting Star' led to consolidation

USD/JPY: 'Shooting Star' led to consolidation


The last 'Shooting Star' led to the current consolidation. Also, there's no any reversal pattern so far, which means the market is going to continue declining. The main bearish target is the lower 'Window' (100.20).


The market is still consolidating under the Moving Averages. There's a bearish 'High Wave', so the pair is likely going to test the nearest support at 110.74. This level could be a starting point for an upward correction towards the closest resistance at 111.39.



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