Japanese Candlesticks Analysis 24.08.2018 (EURUSD, USDJPY)

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, EURUSD continues growing. Right now, it is being corrected again and forming Inverted Hammer, Hammer, Doji, and Engulfing reversal patterns. At the moment, it may be assumed that these patterns indicate a new rising tendency.

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, after rebounding from the support level, USDJPY is still forming Hammer and Doji reversal patterns. By now, it has already reached the resistance level. Judging by the previous movement, it may be assumed that the instrument may complete another correction and start a new ascending tendency.