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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: "Shooting Star" led to correction

USD/JPY: "Shooting Star" led to correction

There’s a support by the 21 & 13 Moving Averages. However, we’ve got an “Engulfing” on the upper “Window”. So, bears are likely going to reach the 34 Moving Average in the short term. As we can see on the Daily chart, there’s a resistance by the nearest “Window” and the 55 Moving Average. Therefore, there’s an opportunity to see a local downward correction.

USD/JPY: "Shooting Star" led to correction

We’ve got a consolidation, which is taking place along the Moving Averages. Previously, a “Shooting Star” has been formed at the local high. So, bears are likely going to achieve the closest support line during the day.

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