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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: "Inverted Hammer" brings bulls back to life

USD/JPY: "Inverted Hammer" brings bulls back to life

There’re a “Tower” and an “Inverted Hammer” at the local low, which both have been confirmed enough. The last candles are bullish, so the market is likely going to reach the 144 Moving Average in the short term. As we can see on the Daily chart, we’ve got a “Harami” and a “Tower”, but their confirmation isn’t enough. So, bulls will probably try to achieve the nearest resistance once again.

USD/JPY: "Inverted Hammer" brings bulls back to life

We’ve got a “Harami” on the 144 Moving Average, which led to the current rise. The 34 Moving Average was reached afterwards. Considering there isn’t any reversal pattern, bulls will likely try to achieve the 2014’s maximum. 

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