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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: one more "Hammer"

Galina Svetlova

USD/JPY: one more "Hammer"

There's a local correction in progress under the Moving Averages. We haven't got any reversal pattern so far. Therefore, the pair is likely going to reach a resistance by the Moving Averages. If a pullback appears, then a decline will have an opportunity to be continued. As we can see on the Daily chart, there’s a “Hammer” on the “Window” area, but this model doesn't have a confirmation. So, today’s candle is probably going to be the bearish one.

USD/JPY: one more "Hammer"

We've got a flat on the one-hour chart. There's a “Tower” pattern on the 21 Moving Average. Considering a “Hammer” on the local low, the market is likely going to reach the Moving Averages and start to decline afterwards.

JPY
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