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    USD/JPY: candlestick analysis

    USD/JPY: candlestick analysis

    There’s more and more selling pressure after a couple of bearish “Three Methods” pattern was formed. We’ve got only bearish candles and don't have a reversal one. At the same time, it’s a possibility for a local correction to the middle of the last black candle. The same things are happening on the daily chart as well, but there’re eight lows in the row, so it’s very likely to see an upward correction soon.

    USD/JPY: candlestick analysis

    The “Three Methods” patterns have arrived to the one-hours chart, which was a sign for new lows. At the last minimum we can see a possible beginning of the upward correction. If the price faces a resistance in the middle of the last huge black candle, it could be a start to the next stage of bearish rally.

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