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    USD/JPY: candlestick analysis

    USD/JPY: candlestick analysis

    There’s a “Tower” at the last high, which was the first step into a downward correction. A “Bullish Harami” was formed last Friday at the “Three Methods’” support level. It’s likely to see an upward movement, but we also should keep in mind that the bearish trend is still has a power. As we can see on the daily chart, here’s a possible “Harami” pattern.

    USD/JPY: candlestick analysis

    A bullish “Hummer” with a strong confirmation has been formed at the last low. However, the contraction was slowed down near the 21 Moving Average line. It's likely to see a local correction and the next stage of upward movement towards the 89 Moving Average line afterwards.

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