Japanese Candlesticks Analysis 29.04.2022 (EURUSD, USDJPY, EURGBP)

Article By RoboForex.com

EURUSD, “Euro vs US Dollar”

As we can see in the H4 chart, the asset has formed a Harami reversal pattern close to the support area. At the moment, EURUSD is reversing in the form of a new correctional impulse. In this case, the upside correctional target may be at 1.0575. However, an alternative scenario implies that the price may fall to reach 1.0420 and continue the descending tendency without any corrections towards the resistance level.

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 level. At the moment, the asset is reversing in the form of a new descending impulse. In this case, the downside correctional target may be at 129.90. At the same time, an opposite scenario implies that the price may grow to reach 132.50 and continue the uptrend without any pullbacks.

EURGBP, “Euro vs Great Britain Pound”

As we can see in the H4 chart, after forming a Shooting Star reversal pattern near the resistance area, EURGBP is reversing and correcting. In this case, the downside correctional target may be at 0.8395. Later, the market may test the support level, rebound from it, and resume the ascending impulse. Still, there might be an alternative scenario, according to which the asset may grow to reach 0.8475 and continue the uptrend without testing the support level.

Article By RoboForex.com

Attention!
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.