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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 won the power

Galina Svetlova

USD/JPY: bears won the power

There're a “High Wave” and an “Engulfing Bullish” at the last low, so it’s likely to see an upward movement towards the nearest resistance in the short term. Anyway, it’s going to be just a correction. As we can see on the Daily chart, the “Window” was broken, but it can be tested once again during the current correction. If a pullback appears, then bears will have a chance to show their power.

USD/JPY: bears won the power

We’ve got an “Engulfing” and a “High Wave”, which led to the current flat. As well as we have a “Shooting Star” at the last high, it’s likely to see a decline towards the nearest support line. If bears be stopped here, then bulls will probably try to reach the 55 Moving Average line and the resistance nearby.

JPY
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