Japanese Candlesticks Analysis 08.08.2017 (AUD/USD, USD/JPY)

Article By RoboForex.com

AUD/USD, “Australian Dollar vs. US Dollar”

At the H4 chart of AUD USD, the downtrend continues. The price is falling rather slowly with slight corrections, at the tops of which it is forming reversal patterns such as Harami, Engulfing, Shooting Star, and Long-Legged Doji. After breaking the support level at 0.7889, the instrument is expected to fall and reach 0.7808.

 

USD JPY, “US Dollar vs. Japanese Yen”


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At the H4 chart of USD JPY, the situation is pretty similar. The price is moving to the downside with corrections and reversal patterns at their tops. By now, the instrument has returned to the resistance level and completed several Engulfing and Doji patterns, which may indicate that soon the pair may start falling and break the support level.

 

RoboForex Analytical Department

Article By RoboForex.com

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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex LP bears no responsibility for trading results based on trading recommendations described in these analytical reviews.