Resistance: 77.79 strong/77.93 moderate/78.06 minor

Support: 77.66 moderate/77.52 minor/77.39 minor

We have a low level bearish reversal pattern Bearish Harami in USDJPY. This is just below a strong resistance level at77.79, the Pivot Point suggesting we look for a sell-off to occur. Consider shorts at market with 77.66 as the immediate objective break of which opens up 77.52. Stops must be placed above the Pivot Point. The prudent course of action would be to wait for a confirming big black candle before selling.

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