Japanese Candlesticks Analysis 13.06.2019 (EURUSD, USDJPY)

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, after breaking the resistance level, EURUSD is trading upwards; by now, it has formed Inverted Hammer reversal pattern close to the channel’s downside border. Right now, the pair is growing and may continue up 1.1347. However, one shouldn’t exclude a possibility that the price may break the channel and resume falling to reach 1.1250.

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, USDJPY is trading downwards. After completing Harami reversal pattern, the pair is trading sideways and testing the support level. Bulls are trying to push the pair upwards, but they aren’t strong enough. Still, there is a possibility that they may yet beat bears and reach 109.15. However, one shouldn’t exclude another scenario, according to which the price may break the support level and fall towards at 107.50.