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: "High Wave" gave bulls a free hand

USD/JPY: "High Wave" give bulls a free hand

The price tested the middle of the last huge black candle once again, so we’ve got a “Shooting Star”, but it hasn’t been confirmed yet. So, the pair is likely going to reach the nearest support line. As we can see on the Daily chart, the nearest “Window” acted as a support, so the market is likely going to reach the 34 Moving Average. If we see a pullback from this line, bears will probably try to move on.

USD/JPY: "High Wave" give bulls a free hand

We’ve got an “Engulfing” at the local low, which led to the current upward movement. So, there’s an opportunity to see a local correction, but bulls will likely try to test the last high once again.

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