Japanese Candlesticks Analysis 22.06.2022 (EURUSD, USDJPY, EURGBP)

EURUSD, “Euro vs US Dollar”

As we can see in the H4 chart, the asset has formed a Harami reversal pattern close to the resistance area. At the moment, EURUSD may reverse in the form of a new descending impulse. In this case, the downside target may be at 1.0420. However, an alternative scenario implies that the price may correct to reach 1.0575 first and then resume the downtrend.

USDJPY, “US Dollar vs Japanese Yen”

As we can see in the H4 chart, USDJPY has formed a Hanging Man pattern not far from the resistance area. At the moment, the asset is reversing in the form of a new correctional impulse. In this case, the downside correctional target may be at 135.40. At the same time, an opposite scenario implies that the price may grow to reach 137.55 and continue the uptrend without any pullbacks towards the support level.

EURGBP, “Euro vs Great Britain Pound”

As we can see in the H4 chart, after forming a Hammer pattern near the support area, EURGBP is reversing in the form of a new rising impulse. In this case, the upside target may be the resistance level at 0.8650. Later, the market may test this level, break it, and continue moving upwards. Still, there might be an alternative scenario, according to which the asset may correct to reach 0.8550 before resuming the ascending tendency.