Japanese Candlesticks Analysis 21.09.2020 (EURUSD, USDJPY, EURGBP)

21.09.2020

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, the uptrend continues. At the moment, EURUSD is reversing after forming a Hammer pattern. The upside target may be the next resistance level at 1.1950. At the same time, an alternative scenario implies that the instrument may continue falling to return to 1.1790.

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

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, the pair is moving close to the support level. After forming several reversal patterns, including Hammer, USDJPY is expected to reverse and move upwards. The upside target may be close to the resistance area at 104.72. Still, there is an opposite scenario, which says that the instrument may continue falling and reach the next support level at 103.90 without reversing.

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

EURGBP, “Euro vs. Great Britain Pound”

As we can see in the H4 chart, the rising tendency continues. After forming several reversal patterns, including Doji, close to the support level and reversing, EURGBP has rebounded from the channel’s downside border due to a strong rising impulse and may resume growing to reach the next resistance level at 0.9300. However, there might be another scenario, according to which the asset may fall and return to the support area at 0.9075.

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.