GBP/JPY – 4H – BUYThen a ‘Bullish Engulfing’ candle chart pattern is found. The candles form ‘Bullish Engulfing’. which is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Engulfing’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 199.55300 |
| 2nd High | 198.43800 |
| Next High | 197.78100 |
| Current Price | 193.06500 |
| Next Low | 188.07200 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Bullish Engulfing