GBP/JPY – 1H – BUYIn addition a ‘Bullish Engulfing’ chart pattern is found. The candles form ‘Bullish Engulfing’. which is a bullish chart scenario. 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 | 198.94600 |
| Next High | 197.51500 |
| Current Price | 194.69500 |
| Next Low | 194.05400 |
| 2nd Low | 193.62500 |
| 3rd Low | 192.85100 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Bullish Engulfing