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USD/JPY: 'Three Methods' pattern still in force

USD/JPY: 'Three Methods' pattern still in force

Information is not investment advice

We've got a bearish 'Engulfing', but this pattern remains unconfirmed. Previously, we had a 'Three Methods' pattern, which is still in force. However, if a pullback from the nearest resistance at 111.62 happens little later on, bears will probably try to test the lower 'Window' (109.41). The subsequent pullback from this level could lead to an upward price movement towards the next 'Window' (112.65).

2002usdjpyD.png

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