There' a "V-Top" pattern, so the pair is likely going to test the closest support at 1.3996 - 1.3979. Meanwhile, if a pullback...
USD/JPY: "Window" acted as resistance
Bears are still pushing the price lower, so there isn't any bullish pattern. However, if we see a pullback from the nearest support level, there'll be an opportunity to have an upward correction.
The upper "Window" has acted as resistance, so we've got bearish patterns such a "Harami" and a "High Wave". Therefore, bears are likely going to deliver a new local low in the coming hours.
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…
The 144 Moving Average has acted as support, but there's a bearish "Engulfing' at the local high.