GBP/JPY – 1H – SELLThe currency pair British Pound/Japanese Yen (GBP/JPY) goes from the bullish trendline down.
A bearish descent downwards to the next support line at 193.47200 will continue.
Caution: A possible change in the direction of the resistance zone at 197.53900 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Bearish Harami’ candle chart pattern is existing. The chart shows ‘Bearish Harami’. which is a negative chart scenario. The currency pair is likely to fall. 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 | 198.94600 |
| 2nd High | 198.25200 |
| Next High | 197.53900 |
| Current Price | 194.62800 |
| Next Low | 193.47200 |
| 2nd Low | 192.85100 |
| 3rd Low | 192.51300 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Bearish Harami