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    USD/JPY: candlestick analysis

    USD/JPY: candlestick analysis

    The market has been falling down. Previously, a correction was ended by the “Shooting Star” on the 21 Moving Average line. All the last candles are bearish and there aren’t any reversal patterns, so it’s likely that the downward movement will go on. As we can see on the daily chart, a “Harami” hasn’t been confirmed, so it’s possible that the pair is going to get more selling pressure.

    USD/JPY: candlestick analysis

    Here’s a “Harami” at the last high and the 55 Moving Average line. Earlier, a “Three Methods” pattern has been formed that indicateed a bearish power. In the short term the price can reach the last resistance level once again and then starts falling from it.


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