Japanese Candlesticks Analysis 05.07.2018 (EURUSD, USDJPY)

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, while moving sideways and forming slight pullbacks and Hammer, Engulfing, and Doji reversal patterns, EURUSD has reached the resistance level once again. At the moment, it may be assumed that the above-mentioned patterns indicate that the instrument may break the level and continue its ascending movement.

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, after completing another slight correction from the resistance level, USDJPY has formed several Harami, Hammer, and Engulfing reversal patterns. Judging by the previous movement, it may be assumed that the correction is over and the instrument may continue trading to the upside.