Japanese Candlesticks Analysis 28.09.2022 (EURUSD, USDJPY, EURGBP)

28.09.2022

EURUSD, “Euro vs US Dollar”

As we can see in the H4 chart, after forming a Hammer reversal pattern close to the support area, EURUSD may reverse in the form of a new ascending impulse. In this case, the upside correctional target may be at 0.9640. However, an alternative scenario implies that the price may fall to break 0.9485 and continue the downtrend without any pullbacks.

EURUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

As we can see in the H4 chart, USDJPY has formed a Hanging Man reversal pattern not far from the resistance level. At the moment, the asset may reverse and form a new descending impulse. In this case, the downside target may be at 143.70. At the same time, the opposite scenario implies that the price may grow to reach 146.35 and continue the uptrend without any pullbacks down to the support area.

USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

EURGBP, “Euro vs Great Britain Pound”

As we can see in the H4 chart, after forming a Harami reversal pattern during the pullback, EURGBP is reversing in the form of a new rising impulse. In this case, the upside target may be the resistance level at 0.9090. Later, the market may test this level, break it, and continue moving upwards. Still, there might be an alternative scenario, in which the asset may correct to reach 0.8695 first and then resume the uptrend.

EURGBP
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Attention!

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.