GBP/JPY – 1H – SELLThen a ‘Bearish Engulfing’ candle pattern is existing. The candles form ‘Bearish Engulfing’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 198.94600 |
| 2nd High | 198.25200 |
| Next High | 197.53900 |
| Current Price | 195.49900 |
| Next Low | 195.11500 |
| 2nd Low | 194.63800 |
| 3rd Low | 194.18900 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Bearish Engulfing