GBP/JPY – 30M – SELLThe pair British Pound/Japanese Yen (GBP/JPY) goes from the bullish trendline downwards
A bearish movement down to the next support level at 194.63800 will persist.
Caution: A possible trend reversal in the direction of the resistance zone at 197.40600 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Bearish Harami’ chart pattern is detected. The candles show ‘Bearish Harami’. which is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Harami’ heading down is 53% (Bull Market) & 50% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 198.94600 |
| 2nd High | 197.51500 |
| Next High | 197.40600 |
| Current Price | 197.09400 |
| Next Low | 194.63800 |
| 2nd Low | 194.18900 |
| 3rd Low | 194.05400 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Bearish Harami