GBP/JPY – 4H – SELLThe currency pair British Pound/Japanese Yen (GBP/JPY) jumps from the bullish trendline down.
A bearish descent down to the next support line at 194.05400 will persist.
Caution: A possible change in the direction of the resistance zone at 198.94600 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Bearish Harami’ candle chart pattern is found. The chart shows ‘Bearish Harami’. this is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Harami’ going down is 53% (Bull Market) & 50% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 198.94600 |
| Current Price | 196.80500 |
| Next Low | 194.05400 |
| 2nd Low | 192.85100 |
| 3rd Low | 190.59400 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Bearish Harami