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Japanese Candlesticks Analysis 12.01.2016 (EUR/USD, USD/JPY)

12.01.2016

Analysis for January 12th, 2016

EUR USD, “Euro vs. US Dollar”

At the H4 chart of EUR USD, bullish Hammer pattern indicates an ascending movement.  Three Line Break chart and Heiken Ashi candlesticks confirm a bullish direction.



The H4 chart of EUR USD shows a sideways correction. High Wave pattern near the support level indicates a bullish movement. Three Line Break chart shows a bullish direction; Heiken Ashi candlesticks confirm a bearish pullback towards the support level.




USD JPY, “US Dollar vs. Japanese Yen”

The H4 chart of USD JPY shows a sideways correction within the downtrend. The downside Window provides resistance. Three Line Break chart and bullish Doji pattern confirm that the ascending correction continues; Heiken Ashi candlesticks show a bearish direction.



 
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