Japanese Candlesticks Analysis 27.06.2022 (EURUSD, USDJPY, EURGBP)

EURUSD, “Euro vs US Dollar”

As we can see in the H4 chart, the asset has formed an Inverted Hammer reversal pattern close to the support area during the correction. At the moment, EURUSD may reverse in the form of a new ascending impulse. In this case, the upside target may be at 1.0595. However, an alternative scenario implies that the price may fall to reach 1.0490 and continue the downtrend without testing 1.0595.

USDJPY, “US Dollar vs Japanese Yen”

As we can see in the H4 chart, USDJPY has formed several reversal patterns not far from the support area, such as Hammer. At the moment, the asset is reversing in the form of a new rising impulse. In this case, the upside target may be at 137.50. At the same time, an opposite scenario implies that the price may correct to reach 134.15 and resume the uptrend after a pullback.

EURGBP, “Euro vs Great Britain Pound”

As we can see in the H4 chart, after forming aт Engulfing pattern near the support area, EURGBP is reversing in the form of a new rising impulse. In this case, the upside target may be the resistance level at 0.8655. Later, the market may test this level, break it, and continue moving upwards. Still, there might be an alternative scenario, according to which the asset may correct to reach 0.8570 before resuming the ascending tendency.