Japanese Candlesticks Analysis 11.05.2018 (EURUSD, USDJPY)
EURUSD, “Euro vs. US Dollar”
In the H4 chart, after breaking another support level and forming several Inverted Hammer and Hammer reversal patterns, EURUSD has completed another correction with Hanging Man pattern at the top. At the moment, it may be assumed that the price may later continue its decline.
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, USDJPY is still trading sideways near the resistance level and forming a lot of Doji, Shooting Star, and Engulfing reversal patterns. Judging by the previous movements, at the moment it may be assumed that the instrument may stop this sideways movement, break the support level, and resume moving downwards.
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