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    USD/JPY: candlestick analysis

    USD/JPY: candlestick analysis

    There’s the 55 Moving Average line, which has been acting as a resistance. Also, we can find a couple of bearish patterns here like a “Harami” and a “Shooting Star”. The last candles are bearish and we don’t have any reversal patterns so far, so it’s likely that the downward movement will go on. As we can see on the daily chart, there’s a correction above the “Window”, which can be achieved once again. If a bullish pullback arrives afterwards, buyers might start a new movement.

    USD/JPY: candlestick analysis

    We’ve got a “Hammer” at the local minimum and the price faced a resistance by the “Three Methods” pattern afterwards. The last candles are bearish, so it’s likely that the downward movement will go on until we've got any bullish reversal pattern on the nearest support line.

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