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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: bearish "Engulfing" arrived

USD/JPY: bearish "Engulfing" arrived

There’s a support by the nearest Moving Averages. Also, we’ve got a “Shooting Star” at the last high, but this pattern hasn’t been confirmed yet. Therefore, the market is likely going to reach the closest support line in the short term. If we see a pullback from this level, there’ll be an opportunity to have another bullish price movement. As we can see on the Daily chart, here’s a “Harami” pattern, which has been strongly confirmed, so bulls will have a chance to deliver a new local high.

USD/JPY: bearish "Engulfing" arrived

We’ve got a “Hammer” and a “High Wave” patterns on the one-hour chart. However, there’s a bearish “Engulfing” pattern, which points to a possibility to see a local downward correction. In this case bears will probably try to break the nearest Moving Averages soon.

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