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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: bears can't move on because of the "Window"

USD/JPY: bears can't move on because of the "Window"

We’ve got a “Hammer” and a “Tweezers” on the nearest support line. Also, the middle of the last huge black candle acts a support as well. Therefore, the market is likely going to test the nearest “Window” once again in the short term. As we can see on the Daily chart, there’s many reversal patterns at the last low, so the price is moving in a range between these patterns and the nearest “Window”. Under this circumstances , if the middle of the big black candle acts as a resistance, a new downward movement becomes possible.

USD/JPY: bears can't move on because of the "Window"

There’s a flat correction in progress, so the nearest resistance level is very actual. However, we’ve got a “Shooting Star” on the 55 Moving Average, so bears are likely going to achieve the nearest support during the day.

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