GBP/JPY – 30M – BUYCorrection of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is likely expected. Target of the current trend is 203.5385 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the support line at 204.737 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Tweezers Top’ candlestick pattern is detected. The chart shows ‘Tweezers Top’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Tweezers Top’ heading down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 205.317 |
| 2nd High | 204.87 |
| Next High | 204.737 |
| Current Price | 204.08600 |
| Next Low | 203.883 |
| 2nd Low | 203.69 |
| 3rd Low | 203.127 |
204.737 – 204.293 – 204.52 – 203.883 – 203.69 – 203.127 —
204.49500 – 204.10800 —
48.074227360865 – 36.603731606418 —
– —
204.73700 – 1763497800
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Tweezers Top – – – – –