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Galina has been using the Japanese Candlesticks in trading since 2004. Meanwhile, she has wrote dozens of articles about these patterns, because nowadays it's possible to see a lot of things that couldn't be discovered in the good old days. Everyday Galina share her expert opinion about EUR/USD and USD/JPY on the fxBazooka.com.

USD/JPY: new low is coming because of "Engulfing"

USD/JPY: new low is coming because of "Engulfing"

There’s a bearish “Engulfing” on the 34 Moving Average, which has been confirmed enough. However, there’s also an opportunity to have a local correction towards the nearest “Window”. As we can see on the Daily chart, here’s an “Engulfing” at the local high, so bears are likely going to move on.

USD/JPY: new low is coming because of "Engulfing"

We’ve got one more “Engulfing” on the one-hour chart, which also has been confirmed enough. Therefore, sellers are likely going to reach the nearest support line, which could bring any bullish pattern afterwards.

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