Japanese Candlesticks Analysis 25.05.2023 (EURUSD, USDJPY, EURGBP)
EURUSD, “Euro vs US Dollar”
On H4, near the resistance level, EURUSD has formed a Harami reversal pattern. Currently, the instrument is going by the reversal signal in a descending wave. The decrease target could be 1.0695. However, the price might correct to 1.0770 and continue the downtrend after testing the resistance.
USDJPY, “US Dollar vs Japanese Yen”
On H4, USDJPY has formed a Shooting Star reversal pattern. Currently, the instrument might go by the reversal signal in a descending wave. The correction target could be 138.95. However, the price might rise to 140.40 and continue the uptrend without pulling back to the support.
EURGBP, “Euro vs Great Britain Pound”
On H4, EURGBP has formed a Shooting Star reversal pattern. Currently, the instrument is going by the reversal signal in a descending wave. The decrease target could be 0.8655. Upon testing and breaking it, the price could continue the downtrend. However, the quotes could correct to 0.8710 before falling.
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.