Japanese Candlesticks Analysis 14.10.2019 (EURUSD, USDJPY)
EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, the ascending channel continues. By now, EURUSD has completed Hanging Man reversal pattern close to the channel’s upside border. Later, after reversing, the price may form a new correction and then resume growing to reach 1.1093. However, one shouldn’t exclude a possibility that the price may continue falling towards 1.0888.
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, after forming Long-Legged Doji reversal pattern, USDJPY is trading close to the resistance level. Right now, the pair is reversing and may later continue fall to return to 106.80. However, we shouldn’t ignore an opposite scenario, according to which the instrument may fail to reverse and then start a new growth to reach 108.95.
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