USD/JPY
The market was bearish in the long-term. On Monday, nothing significant happened except a tight, sideways movement. There are demand levels at 106.50 and 106.00, which would impede bearish movements and they would eventually help bring about a bullish reversal, which is expected to take place before the end of this week.
When a breakout happens, it may be in favor of bulls, as price goes towards the supply levels at 107.00, 107.50 and 108.00. This is what can bring about a Bullish Confirmation Pattern in the 4-hour chart, pointing to a northwards propensity.
