Japanese Candlesticks Analysis 28.01.2013 (EUR/USD, USD/JPY)
28.01.2013
Analysis for January 28th, 2013
EUR/USD
The H4 chart of the EUR/USD currency pair shows a bullish tendency on the ascending trend, which continued after Three Methods pattern. Three Line Break chart and Heiken Ashi candlesticks confirm an ascending movement; Shooting Star pattern indicates a possible correction.
The H1 chart of the EUR/USD currency pair also the ascending trend. Hanging Man and Belt Hold patterns, as well as Three Line Break chart and Heiken Ashi candlesticks, confirm a possible correction.
USD/JPY
The H4 chart of the USD/JPY currency pair shows a bullish tendency on the ascending trend. Three Line Break chart and Heiken Ashi candlesticks confirm an ascending movement; Advance Block and Deliberation patterns indicate a possible correction.
The H1 chart of the USD/JPY currency pair shows the start of a correction on the ascending trend, which is indicated by Engulfing Bearish pattern. Three Line Break chart indicates the current trend; Heiken Ashi candlesticks and Engulfing Bearish pattern confirm a descending movement.
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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.