Japanese Candlesticks Analysis 30.09.2020 (EURUSD, USDJPY, EURGBP)

EURUSD, “Euro vs. US Dollar”

As we can see in the H4 chart, the asset is finishing the correction within the downtrend. By now, EURUSD has formed several reversal patterns, such as Harami, close to the channel’s upside border. Possibly, the pair may reverse and resume its decline. In this case, the downside target may be the next support level at 1.1560.

USDJPY, “US Dollar vs. Japanese Yen”

As we can see in the H4 chart, the pair is forming another correction within the uptrend. After forming an Engulfing pattern not far from the resistance level, USDJPY is expected to correct towards the support level at 105.25, rebound from it, and then resume moving upwards. The upside target remains at the resistance area at 106.20. Still, there is an opposite scenario, which says that the instrument may continue falling and reach 104.85.

EURGBP, “Euro vs. Great Britain Pound”

As we can see in the H4 chart, the rising tendency continues. After forming several reversal patterns, including Hammer, close to the support level, EURGBP is reversing. The upside target remains at 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.