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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: the "Window" is waiting for bulls

Galina Svetlova

USD/JPY: the "Window" is waiting for bulls

There's an “Engulfing” at the last high, which has stopped the bullish rally. At the same time, we’ve got a “Hammer” on the 89 Moving Average, so the market is likely going to test the 144 Moving Average once again. If a pullback from this line happens, it'll be a chance to see a downward movement towards the nearest support. As we can see on the Daily chart, there's a “Dark Cloud” near the 61.8% fibo retracement, but even though bears haven’t done anything serious. So, the 61.8% fibo retracement is likely going to be tested one more time.

USD/JPY: the "Window" is waiting for bulls

The current flat seems like just a correction inside the main bullish trend. Moreover, we've got a “Harami” on the 34 Moving Average as well as a “Doji” at the local low. Anyway, the price is likely going to continue moving in the current range until any bullish pattern arrives.

JPY
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