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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: bears scared away after the "hammer"

Galina Svetlova

USD/JPY: bears scared away after the "hammer"

There's a “Harami” at the last low, which led to the current upward movement. It’s likely that the price is going to achieve the 89 Moving Average line once again. As we can see on the Daily chart, the price has been moving in a small range and bears can't do anything with that.

USD/JPY: bears scared away after the "hammer"

We’ve got an “Inverted Hammer” at the last low, which has been confirmed. Moreover, a “Three Methods” has just formed, so it’s likely that the upward movement is going to be continued until any reversal patterns arrives.

JPY
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