USD/JPY: "Shooting Star" pattern

USD/JPY: "Shooting Star" pattern

1110usdjpyH4-1.png

The price is still consolidating. Also, there's a bullish "Engulfing" on the 55 Moving Average, but this pattern remains unconfirmed. So, the price is likely going to continue moving down until any reversal pattern arrives.

1110usdjpyH1-1.png

We've got a "Shooting Star" pattern, which has been formed on the 55 & 89 Moving Averages. In this case, the pair is likely going to test the nearest support area during the day.

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