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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: "Engulfing Bearish" points to a new downward movement

USD/JPY: "Engulfing Bearish" points to a new downward movement

There’s a “Doji” at the local high, which has been confirmed enough. So, the price is likely going to reach the 34 Moving Average shortly. As we can see on the Daily chart, we’ve got an unconfirmed “Engulfing”. If it confirms, bears will probably try to return into the market.

USD/JPY: "Engulfing Bearish" points to a new downward movement

We’ve got a “Harami” at the last high, which has been confirmed. Also, there’s an “Engulfing” on the 55 Moving Average, so the pair is likely going to get a resistance on the 21 Moving Average. If a pullback from this line arrives later on, a downward movement becomes possible.

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