GBP/JPY – 30M – SELLThe currency pair British Pound/Japanese Yen (GBP/JPY) jumps from the bullish trendline downwards
The bearish trend downwards to the next support line at 194.63800 is considered certain.
Caution: A possible counter-trend in the direction of the resistance zone at 197.51500 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Then a ‘Bearish Harami’ candlestick pattern is detected. The chart forms ‘Bearish Harami’. which is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Harami’ heading down is 53% (Bull Market) & 50% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 199.37100 |
| 2nd High | 198.94600 |
| Next High | 197.51500 |
| Current Price | 196.78600 |
| Next Low | 194.63800 |
| 2nd Low | 194.18900 |
| 3rd Low | 194.05400 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Bearish Harami