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USD/JPY: candlestick analysis

USD/JPY: candlestick analysis

There’s an “Engulfing Bullish” and it's likely the end of local downward correction. So, the price might resume the upward correction. As we can see on the daily chart, the middle of big white candle is still act as a support.

USD/JPY: candlestick analysis

We’ve got a “Tower” at the last high. At the same time, there’re a “Hammer” and an “Engulfing Bullish” at the last low, so it seems like a reason to see the market higher. Moreover, the price got a support on the 55 & 89 Moving Average lines, which reinforces bullish expectations.

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