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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 price get lodged on the "Window"

USD/JPY: the price get lodged on the "Window"

The price is moving along the nearest “Window”. Considering a previously formed “Harami”, there’s a chance for bears to break the “Window’s” lower side. Therefore, the market is likely going to achieve the next “Window” near the 34 Moving Average. As we can see on the Daily chart, there's a local upward correction in progress. So, today we will probably see an “Engulfing” pattern, which is currently developing.

USD/JPY: the price get lodged on the "Window"

There’re a “Harami”, a “High Wave” and a “Three Methods” at the last high. So, the market is likely going to reach the nearest support, which is strong enough to reverse the current pair's direction into an upward one, but only in the short term.

JPY
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