USD/JPY: "Shooting Star" pattern

USD/JPY: "Shooting Star" pattern

2509usdjpyH4.png

The upper "Window" has acted as resistance once again, so we've got a "Shooting Star". In this case, the market is likely going to test the nearest "Window", which could act as support.

2509usdjpyH1.png

We've got a "Hammer", which has been formed on the 34 Moving Average. So, bulls are likely going to test the closest "Window", which could be a departure point for a decline.

jpy

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