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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: candlestick analysis

Galina Svetlova

USD/JPY: candlestick analysis

There’s a local correction in progress on the 55 Moving Average line. The price has formed a new support level, where we can see a couple of  “Engulfing Bullish” patterns. So, the upward correction has a reason to go even higher. As we can see on the daily chart, the middle of big white candle has been acting as a support, so the bullish scenario is a still actual.

USD/JPY: candlestick analysis

We’ve got a flat on the one-hour chart. There’s a “Harami” and a “Three Black Crows” at the last maximum. Moreover, a bearish “Three Methods” on the 55 Moving Average line has arrived as well.  So, it’s likely that the price is going to test the support levels once again.

JPY
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