Japanese Candlesticks Analysis 05.06.2019 (EURUSD, USDJPY)
EURUSD, “Euro vs. US Dollar”
the channel’s downside border and forming reversal patterns. As we can see in the H4 chart, EURUSD is trading downwards; right now. It is testing the resistance level. By now, the price has completed Shooting Star reversal pattern, which may result in a rebound from the level. In this case, the pair may reverse and fall towards 1.1131. However, one shouldn’t exclude a possibility that the price may break this level and continue its growth to reach 1.1322 .
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, USDJPY is trading downwards. While testing the support level, the pair formed Hammer pattern and several more reversal patterns, including Harami, which may be a strong signal of a reverse. In this case, the instrument may rebound from the support level again and return to 109.75. However, if the price breaks the border, it may reach 107.74 and then continue falling towards the next support level.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.