Resistance: 78.84 moderate / 79.09 minor / 79.43 minor

Support: 78.50 strong / 78.25 moderate / 77.91 minor

USDJPY is generally bullish with the Bearish Harami occurring near a strong support level at 78.50, the Pivot Point. As such it would be best to consider shorting only if we have a close below 78.50 with a stop loss above the candlestick patterns high. Price target for any subsequent sell-off will be at 78.25, possibly on to 77.91 if the former gives way.

For pattern explanation and visual identification rules, click here.

Learn more about the chart patterns and how to recognize them in our Learning Center: Japanese Candlesticks - A Way To Look At Prices