GBP/JPY – 1H – BUYThe currency pair British Pound/Japanese Yen (GBP/JPY) moves from the ascending trendline downwards
A descending movement down to the next support line at 193.62500 will persist.
Caution: A possible change in the direction of the resistance zone at 195.89500 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Matching Low’ candlestick chart pattern is discovered. The chart shows ‘Matching Low’. which is a positive chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 198.43800 |
| 2nd High | 197.78100 |
| Next High | 195.89500 |
| Current Price | 194.89900 |
| Next Low | 193.62500 |
| 2nd Low | 192.85100 |
| 3rd Low | 192.51300 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Matching Low