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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: Moving Average waiting for bulls

USD/JPY: Moving Average waiting for bulls

There's an “Engulfing” at the local high, so the market is likely going to reach the nearest support line in the short term. As we can see on the Daily chart, the last candles are bearish and there isn’t any reversal pattern so far. Also, here’s “Thrusting Line”, but it hasn’t been confirmed yet, so right after a local correction bears will probably try to break the last low.

USD/JPY: Moving Average waiting for bulls

We've got a “High Wave” on the 34 Moving Average line, which has confirmed enough. Therefore, it’s likely that the pair is going to reach the 34 Moving Average once again during the day. If we see a pullback from this line, there’ll be a chance to see another bearish rally.

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