GBP/JPY – 30M – BUYThe currency pair British Pound/Japanese Yen (GBP/JPY) jumps from the bullish trendline downwards
A descent downwards to the next support level at 192.51300 is expected.
Caution: A possible trend reversal in the direction of resistance at 194.10300 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Bullish Harami’ candle pattern is detected. The candles form ‘Bullish Harami’. which is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Harami’ going up is 53% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 194.80200 |
| 2nd High | 194.62100 |
| Next High | 194.10300 |
| Current Price | 194.06300 |
| Next Low | 192.51300 |
| 2nd Low | 192.44600 |
| 3rd Low | 190.59400 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Bullish Harami