Japanese Candlesticks Analysis 26.12.2019 (EURUSD, USDJPY)
EURUSD, “Euro vs. US Dollar”
As we can see in the H4 chart, the ascending channel continues. By now, EURUSD has formed Harami reversal pattern close to the channel’s downside border. We may assume that later the price may reverse and get back to 1.1155 to continue the ascending tendency. However, one shouldn’t exclude a possibility that the price may continue falling towards 1.1055.
USDJPY, “US Dollar vs. Japanese Yen”
As we can see in the H4 chart, the pair continues trading in the middle of the rising channel. After completing Hanging Man pattern, the price has reversed. Today’s trading session opened with a gap. Later, USDJPY may form another correction and then resume growing towards 109.90. At the same time, the pair may choose another scenario and start a new decline to reach 108.88.