Japanese Candlesticks Analysis 30.08.2022 (EURUSD, USDJPY, EURGBP)

EURUSD, “Euro vs US Dollar”

As we can see in the H4 chart, after forming an Inverted Hammer reversal pattern close to the support area, EURUSD may reverse in the form of a new rising impulse. In this case, the upside correctional target may be at 1.0065. However, an alternative scenario implies that the price may fall to break 0.9900 and continue the downtrend without any pullbacks up to the resistance level.

USDJPY, “US Dollar vs Japanese Yen”

As we can see in the H4 chart, USDJPY has formed a Shooting Star reversal pattern not far from the resistance level. At the moment, the asset may reverse and form a correctional impulse. In this case, the downside correctional target may be at 137.75. At the same time, the opposite scenario implies that the price may grow to reach 139.90 and continue the uptrend without any pullbacks down to the support area.

EURGBP, “Euro vs Great Britain Pound”

As we can see in the H4 chart, after forming a Hanging Man reversal pattern near the resistance area, EURGBP is reversing in the form of a new bearish impulse. In this case, the downside correctional target may be the support level at 0.8525. Later, the market may test this level, rebound from it, and resume moving upwards. Still, there might be an alternative scenario, in which the asset may continue growing to reach 0.8580 without any corrections down to the support level.