Japanese Candlesticks Analysis 02.06.2020 (EURUSD, USDJPY, EURGBP)
EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, after growing towards the resistance level and forming a Shooting Star pattern, EURUSD is reversing. The downside target is at 1.1075. We may assume that after a slight correction the price may continue growing towards 1.1160.
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, USDJPY is growing to reach the resistance level again. The current situation implies that the market may break the resistance level and continue moving upwards. In this case, the upside target remains at 108.40. However, there might be another scenario according to which the instrument may fall and return to 107.50.
EURGBP, “Euro vs. Great Britain Pound”
As we can see in the H4 chart, after testing the resistance level and forming a Harami pattern, EURGBP is reversing. The downside target is at 0.8865. After that, the instrument may rebound from the support level and resume the ascending tendency. In this case, the upside target may be at 0.9050.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.