GBP/JPY – 30M – SELLThe currency pair British Pound/Japanese Yen (GBP/JPY) moves from the bullish trendline down.
A bearish movement down to the next support line at 195.73200 is certain.
Caution: A possible reversal of the trend in the direction of the resistance level at 198.94600 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Bearish Harami’ chart pattern is found. The candles show ‘Bearish Harami’. this is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Harami’ going down is 53% (Bull Market) & 50% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 199.55300 |
| 2nd High | 199.37100 |
| Next High | 198.94600 |
| Current Price | 196.99200 |
| Next Low | 195.73200 |
| 2nd Low | 194.05400 |
| 3rd Low | 193.82700 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Bearish Harami