Japanese Candlesticks Analysis 23.01.2018 (EUR/USD, USD/JPY)
EUR USD, “Euro vs. US Dollar”
After almost reaching the resistance level, the EUR/USD pair has formed several Engulfing, Doji, and Shooting Star reversal pattern. The patterns may indicate that the price may reverse soon. A possible downside target will be the support level at 1.2073.
USD JPY, “US Dollar vs. Japanese Yen”
As we can see at the H4 chart, the USD/JPY pair is being corrected and forming a lot of Hammer and Inverted Hammer reversal patterns. These patterns indicate that the pullback may last longer than expected and the instrument may trade towards the resistance level at 112.10.
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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.