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    USD/JPY: candlestick analysis

    USD/JPY: candlestick analysis

    It’s a very likely that here’s a “Tower” at the last high, but we should wait to a confirmation. As we can see on the daily chart, a couple of bullish “Hummers” have been formed and it was a start of the upward correction. After a short break there’s a high possibility for more bullish pressure.

    USD/JPY: candlestick analysis

    A “Hanging Man” and a “Tweezers” have been formed at the last high and the 89 Moving Average. It's likely to see the next steps of a downward correction towards the “Three Methods” support line. If bulls takes over and the price starts rising from this level, then an upward rally are going to begin shortly .

     

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