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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: "Window" has been waiting for bears

Galina Svetlova

USD/JPY: "Window" has been waiting for bears

The market has been falling down and formed a “Three Methods” pattern on the way. The price reached the current support line, so it’s likely to see any kind of bullish pattern and a local rise afterwards. Therefore, this possible movement will be just a correction, so bears are probably going to get a support on the nearest “Window”. As we can see on the Daily chart, the last candles are bearish and we don’t have any reversal patterns so far. Under these circumstances, today’s candle is likely going to be the black one.

USD/JPY: "Window" has been waiting for bears

There’s a bearish trend in progress without any reversal patterns. Previously, a “Shooting Star” was formed at the last high, which led to the current decline. If we see a pullback from the already reached support line, then a bullish correction will likely try to get a resistance on the 21 Moving Average. If any bearish patterns appears on this line, then a downward movement will have a huge chance to be continued.

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