Japanese Candlesticks Analysis 16.01.2023 (EURUSD, USDJPY, EURGBP)
EURUSD, “Euro vs US Dollar”
On H4, at the resistance level, the pair has formed a Hanging Man reversal pattern. The pair may now go by the signal in a correctional wave. The goal of the pullback might be 1.0800. However, the pair may grow to 1.0930, break through it, and continue the uptrend without any correction.
USDJPY, “US Dollar vs Japanese Yen”
On H4, the pair has formed a Hammer reversal pattern. The pair may now go by the signal in an ascending wave. The goal of the growth might be 128.70. However, the pair may drop to 125.50 and continue the downtrend without correcting to the resistance level.
EURGBP, “Euro vs Great Britain Pound”
On H4, the currency pair has formed yet another reversal pattern Hammer. The pair may now go by the signal in an ascending wave. The goal of the growth might be the resistance level of 0.8910. Upon testing and breaking through it, the pair might have a chance for continuing the uptrend. However, the quotes may pull back to 0.8835 before growing.
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