Japanese Candlesticks Analysis 15.06.2020 (EURUSD, USDJPY, EURGBP)

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, after forming a Shooting Star pattern not far from the resistance level, EURUSD is reversing. The downside target remains at 1.1155. At the same time, there is another scenario, which implies that the price may continue trading upwards without testing the support level at 1.1155.

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, after forming several reversal patterns, such as Harami, close to the support level, USDJPY is reversing. The current situation implies that the market may correct for a while and resume the ascending tendency towards 108.30.

EURGBP, “Euro vs. Great Britain Pound”

As we can see in the H4 chart, after testing the rising channel’s downside border one more time and forming a Hammer pattern, EURGBP is still reversing. The upside target is at 0.9075. After that, the instrument may resume the ascending tendency. However, there might be another scenario according to which the instrument may fall and return to the channel’s downside border.