GBP/JPY – 30M – BUYThe pair British Pound/Japanese Yen (GBP/JPY) moves from the bullish trendline downwards
A descent down to the next support line at 190.33800 will persist.
Caution: A possible counter-trend in the direction of the resistance zone at 192.36500 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Bullish Harami’ candle chart pattern is found. The chart forms ‘Bullish Harami’. this is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Harami’ heading up is 53% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 192.61500 |
| 2nd High | 192.46500 |
| Next High | 192.36500 |
| Current Price | 190.87700 |
| Next Low | 190.33800 |
| 2nd Low | 189.35000 |
| 3rd Low | 188.07200 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Bullish Harami