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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: "Belt Hold" points to a possible upward correction

USD/JPY: "Belt Hold" points to a possible upward correction

We’ve got a “High Wave” on the closest “Window” area. So, if it confirms, the price likely going to achieve the nearest resistance level shortly. As we can see on the Daily chart, there’s an “Engulfing”, which has been confirmed strongly. Therefore, the current downward correction is likely going to be continued.

USD/JPY: "Belt Hold" points to a possible upward correction

There’re a “Belt Hold” and a “Harami” at the last low. So, the market is likely going to reach the nearest resistance line during the day, which could reverse the price movement into a bearish direction.

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