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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: "Dark Cloud" hangs over the maximum

Galina Svetlova

USD/JPY: "Dark Cloud" hangs over the maximum

There's a lot of bearish pressure as we've got an “Engulfing” and a “Belt Hold” patterns. The current correction is likely going to be continued towards the 34 Moving Average. If the price gets a support on this line, it'll be a chance for bulls to return to the market. As we can see on the Daily chart, the pair hasn't found a lodgement above the 61.8% fibo retracement, so we've got a “Dark Cloud” pattern. The price is likely going to reach the nearest support line, which can help bulls to stop bears.

USD/JPY: "Dark Cloud" hangs over the maximum

Here’re an “Evening Star” and a “Three Black Crows”, which both have worked well, so we've got a decline. Considering a “Three Methods” pattern, the market is likely going to reach the 55 Moving Average and the maximum, which was formed in 2014.

JPY
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