GBP/JPY – 30M – BUYThe currency pair British Pound/Japanese Yen (GBP/JPY) moves from the bearish trendline down.
A continuation of the downward movement downwards to the next support at is likely expected.
Caution: A possible counter-trend in the direction of the resistance level at 189.02600 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Then a ‘Exponential Moving Average 200 (EMA 200)’ indicator signal is discovered. The indicator is ‘Exponential Moving Average 200 (EMA 200)’. this is usually a bearish chart scenario. The currency pair could go down.
Then a ‘Last Engulfing Top’ candlestick chart pattern is discovered. The chart shows ‘Last Engulfing Top’. this is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Last Engulfing Top’ going down is 68% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 189.14500 |
| 2nd High | 189.06800 |
| Next High | 189.02600 |
| Current Price | 188.48400 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
189.02600 – 189.06800 – 189.14500 – 187.99600 – 188.73400 – 188.68800
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Last Engulfing Top