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USD/JPY: "Shooting Star" led to decline
2019-11-11 • Updated
The price has been declining since a "Shooting Star" pattern was formed on the Moving Averages. However, there's a bullish "Harami", so we could have a local upward correction in the short term. Anyway, bears will probably try to test the lower "Window" afterwards.
The price is consolidating under the Moving Averages. Also, we've got an "Engulfing" pattern, so the market is likely going to test the closest resistance area, which could be a departure point for another decline.
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