Japanese Candlesticks Analysis 23.06.2021 (EURUSD, USDJPY, EURGBP)

EURUSD, “Euro vs US Dollar”

As we can see in the H4 chart, the correction continues. After testing the support area, the pair has formed several reversal patterns, including Hammer. At the moment, EURUSD may reverse and start a new growth towards the resistance level. In this case, the upside target may be at 1.1965. However, an alternative scenario implies that the price may fall to reach 1.1835 without testing the resistance level.

USDJPY, “US Dollar vs Japanese Yen”

As we can see in the H4 chart, USDJPY has formed several reversal patterns, such as Inverted Hammer, not far from the support area. At the moment, the asset continues growing after reversing and may reach the resistance level at 111.15. At the same time, an opposite scenario implies that the price may correct towards 110.50 before resuming the uptrend.

EURGBP, “Euro vs Great Britain Pound”

As we can see in the H4 chart, after forming several reversal patterns, such as Harami, during the pullback, EURGBP may reverse and fall to reach the next support level. In this case, the downside target may be at 0.8530. Later, the market may break this level and continue the descending tendency. Still, there might be an alternative scenario, according to which the asset may correct to reach 0.8575 before a further decline.