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USD/JPY: 'Shooting Star' led to decline

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There are the 'Engulfing' and 'Hanging Man' patterns, which both have been formed at the last local high. So, there's an opportunity to have a local bearish correction. In this case, we should keep an eye on the nearest support at 109.86. A pullback from this level could be a departure point for another upward price movement towards the upper 'Window' (110.77).

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The price is declining because of the last 'Shooting Star'. The main intraday target is the closest support at 109.87. If we have a pullback from this level little later on, there'll be a moment to have a bullish price movement in the direction of the next resistance at 110.77.

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