Japanese Candlesticks Analysis 01.06.2018 (EURUSD, USDJPY)

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, EURUSD has reached another low and completed the correction with several Engulfing and Doji reversal patterns at the top. Judging by the previous movements, at the moment it may be assumed that the correction is over and the price may continue its decline.

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, USDJPY is testing the support level and forming Doji and Hammer reversal patterns. Judging by the previous movements, at the moment it may be assumed that after testing the level, the instrument may resume its growth towards the closest resistance level.