Japanese Candlesticks Analysis 22.05.2024 (EURUSD, USDJPY, EURGBP)

22.05.2024

EURUSD, “Euro vs US Dollar”

EURUSD has formed a Hammer reversal pattern near the support level on H4. Currently, the instrument might go by the reversal signal in an ascending wave. The growth target could be the 1.0910 resistance level. However, the price could pull back to 1.0835 and continue its upward momentum after testing the support.

EURUSD
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

USDJPY, “US Dollar vs Japanese Yen”

USDJPY has formed an Inverted Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target could be the 157.50 mark. However, the price could correct to 155.65 and maintain its upward trajectory after pulling back to the support level.

USDJPY
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

EURGBP, “Euro vs Great Britain Pound”

EURGBP has formed a Hammer reversal pattern on H4. Currently, the instrument might go by the reversal signal in an ascending wave. The growth target could be the 0.8665 mark. After testing this level and breaking above it, the price might continue the uptrend. However, the quotes could pull back to 0.8525 before rising.

EURGBP
Risk Warning: the result of previous trading operations do not guarantee the same results in the future

Attention!

Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.