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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: "Stars" are lighting the bearish rally

USD/JPY: "Stars" are lighting the bearish rally

We’ve got a local “Evening Star”, so the current decline is likely going to continue towards the nearest support level. As we can see on the Daily chart, a “Harami” at the last low hasn’t been confirmed yet. Therefore, bears are probably going to move on.

USD/JPY: "Stars" are lighting the bearish rally

There’s a correction in progress under the Moving Average lines. Previously, a “Shooting Star” was formed at the local high. However, we’ve got a “Harami” at the last low, which has been confirmed, so the market is likely going to reach the 34 Moving Average in the short term. If a pullback from this line happens, there’ll be an opportunity for a new stage of the current bearish rally.

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