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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: "Harami" brought the bearish correction

USD/JPY: "Harami" brought the bearish correction

There’s a “Harami” at the last high, which has been confirmed enough, so the price reached the 144 Moving Average afterwards. The pair is likely going to achieve the middle of the last huge black candle. However, if a pullback from this level happens, bears will probably try to continue the current downward correction. As we can see on the Daily chart, we’ve got an “Engulfing”, but its confirmation is still on the way. Therefore, bears are going to achieve the 21 Moving Average soon.

USD/JPY: "Harami" brought the bearish correction

We’ve got an “Engulfing” and a “Hammer” at the nearest strong support level. So, it’s likely to see a local correction during the day, but the next stage on the current bearish correction is still on the table.

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