Japanese Candlesticks Analysis 23.05.2019 (EURUSD, USDJPY)
EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, EURUSD is trading downwards. After testing the channel’s upside border, the pair formed Shooting Star pattern; right now, it is falling towards 1.1141. Possibly, later the price may break this level and continue its decline to reach 1.1111.
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, USDJPY is trading upwards. The pair has tested the channel’s downside border and formed Hammer pattern; right now, it is forming another reversal pattern, Harami, which may indicate a stronger signal to rebound from the support level. The current growth may reach 110.95, which is the resistance level. In the future, the price may start a new correction from this level.
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