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: "Shooting Star" as a Bearish Sign

Galina Svetlova

USD/JPY: "Shooting Star" as a bearish sign

There's a “Deliberation” candle under the 89 Moving Average, but it hasn't been confirmed yet. So, after a while the price is likely going to rise. As we can see on the Daily chart, the pair reached the 50% Fibonacci retracement level. We haven’t got any reversal patterns so far and all last candles are bullish. Therefore, the market is likely going to achieve the nearest support and start rising afterwards.

USD/JPY: "Shooting Star" as a bearish sign

We’ve got a “Shooting Star” at the local high, but its confirmation isn't enough. So, it’s likely to see more bearish patterns and a possible test of the maximum, which was formed in 2014.

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