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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 preparing to move on towards the low

USD/JPY: bears preparing to move on towards the low

Friday’s black candle has a huge shadow, which led to the current bullish correction. Also, there’s a confirmed bullish “Harami” at the local low. So, the market is likely going to reach the nearest resistance line, which could bring any bearish pattern later on. As we can see on the Daily chart, here’s a pattern similar to an “Inverted Hammer”, but its confirmation is a quite weak. Therefore, if we see a pullback from a resistance nearby there’ll be an opportunity for bears to move on.

USD/JPY: bears preparing to move on towards the low

The last “Window” had been successfully closed, so currently we’ve got a flat under it. However, there’s a bullish “Harami” at the local low. Therefore, the market is likely going to achieve the 89 Moving Average during the day.

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