Japanese Candlesticks Analysis 11.09.2020 (EURUSD, USDJPY, EURGBP)
EURUSD, “Euro vs. US Dollar”
On H4, EURUSD is correcting the uptrend again. The pair is currently trading at the lower border of the ascending channel, working off the signal of a Hammer reversal pattern. The aim of growth after the correction is the next resistance level at 1.1955. However, the price may still return to 1.1760.
USDJPY, “US Dollar vs. Japanese Yen”
On H4, USDJPY is trading inside a horizontal channel. Currently, the pair keeps correcting in the form of a flat. We expect the price to go on growing after the correction is complete. The aim of the growth remains at the resistance level near 107.00. However, the quotations may still pull back to the support level at 105.80.
EURGBP, “Euro vs. Great Britain Pound”
On H4, the pair performed precipitated growth and is testing the resistance level. It has formed several reversal candlestick patterns, including a Harami. Bearing in mind the strong ascending impulse, the working-off of the patterns may entail a correction. The aim of the pullback is 0.9182. The aim of further growth is currently the next resistance level at 0.9310.
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