USD/JPY: "Window" acting as support

USD/JPY: "Window" acting as support

0610usdjpyH4-1.png

The "Window" is acting as support, so we've got an "Engulfing" pattern. Therefore, the market is likely going to reach the nearest resistance area pretty soon.

0610usdjpyH1-1.png

There's a bearish "High Wave", which has been confirmed. So, the price is likely going to get support on the 55 Moving Average. If a pullback from this line happens, we could have just another bullish rally.

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