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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: "High Wave" brought bullish correction

USD/JPY: "High Wave" brought bullish correction

There’s a bullish “Hammer”, which has been confirmed enough. Also, we’ve got a small “Doji”, so the market is likely going to test the 21 Moving Average once again. If we get more bearish patterns on this line, there’ll be an opportunity to have another decline. As we can see on the Daily chart, there isn’t any reversal pattern so far, but if a “Harami” finishes at the end of the day, bulls will probably try to deliver a local correction.

USD/JPY: "High Wave" brought bullish correction

We’ve got a “High Wave” at the local low, which led to an achievement of the 55 Moving Average, so there’re a “Shooting Star” and a “Harami” on this line. However, a confirmation of these patterns is a quite weak, so after a small correction bulls are likely try to get a resistance on the 89 Moving Average. 

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