Japanese Candlesticks Analysis 02.04.2024 (EURUSD, USDJPY, EURGBP)
EURUSD, “Euro vs US Dollar”
EURUSD has formed a Hammer reversal pattern on H4. Currently, the instrument could go by the reversal signal in a corrective wave. The growth target might be the resistance at 1.0765. However, the price could drop to 1.0695 and extend the downtrend without any correction.
USDJPY, “US Dollar vs Japanese Yen”
USDJPY has formed a Shooting Star reversal pattern on H4. Currently, the instrument could go by the reversal signal in a descending wave. The correction target might be 150.85. However, the price could rise to 152.50 and extend the uptrend without testing the support.
EURGBP, “Euro vs Great Britain Pound”
EURGBP has formed a Hammer reversal pattern on H4. Currently, the instrument is going by the reversal signal in an ascending wave. The growth target might be 0.8675. After testing and breaking this level, the quotes could extend the uptrend. However, the price might correct to 0.8530 before rising.
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.