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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: "Inverted Hammer" sent the market up

USD/JPY: "Inverted Hammer" sent the market up

There’s a bullish movement, which is taking place on the four-hour chart. We’ve got a “Shooting Star” at the local high, but it hasn’t been confirmed yet. Therefore, there’s an opportunity to have a local correction towards the nearest “Window”. If a pullback from this level happens, bulls are likely going to deliver a new high. As we can see on the Daily chart, here’s a bullish “Harami” at the last low. So, the market is likely going to reach the nearest resistance in the short term.

USD/JPY: "Inverted Hammer" sent the market up

The last “Inverted Hammer” led to massive bullish rally on Friday. However, there’s an “Engulfing” at the local high, which has been confirmed by the “Three Black Crows” pattern. Under this circumstances, it’s likely to see a support by today’s “Window”. Considering a possible pullback from this level, we can have a new high soon.

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