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: "Three Methods" put new heart into bears

Galina Svetlova

USD/JPY: "Three Methods" put new heart into the bears

The market has been declining since an “Evening Star” was formed at the last high. Moreover, there’s a “Three Methods” pattern, which led to the more bearish pressure. So, it’s likely that the price is going to falling down until any bullish pattern arrives. As we can see on the Daily chart, all last candles are bearish and we don’t have any reversal pattern so far. Therefore, today’s candle is probably going to be a black one.

USD/JPY: "Three Methods" put new heart into the bears

We’ve got a “High Wave” and an “Inverted Hammer” at the local low, but they haven’t been confirmed yet. It’s likely to see a bullish correction during the day. If the price faces a resistance on the 21 Moving Average, then it’ll be an opportunity to see a new low shortly.

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