Japanese Candlesticks Analysis 13.09.2019 (EURUSD, USDJPY)

13.09.2019

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, after completing Hammer pattern and rebounding from the descending channel’s downside border, EURUSD has formed another Shooting Star reversal pattern at the horizontal resistance level. Later, the price may fall to reach 1.0935, thus continuing forming the descending channel. However, one shouldn’t exclude a possibility that the price may update its closest highs and continue growing towards 1.1111.

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, the pair is forming a new rising channel. By now, USDJPY has formed Harami reversal pattern. In the future, the price may reverse and start a new correction towards 107.03. Judging by the previous movements, it may be assumed that after finishing the correction the instrument may continue growing to reach 108.60 to continue forming the ascending tendency.

USDJPY
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.