GBP/JPY – 30M – BUYMoreover a ‘Head and Shoulder chart pattern’ chart formation is discovered. The chart picture forms ‘Head and Shoulder chart pattern’. which is a bearish pattern signal. The pair is likely to go down.
Moreover a ‘Inverted Hammer’ candlestick pattern is detected. The chart forms ‘Inverted Hammer’. this is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Inverted Hammer’ going up is 65% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 212.075 |
| 2nd High | 211.75 |
| Next High | 211.414 |
| Current Price | 211.03700 |
| Next Low | 211.016 |
| 2nd Low | 210.502 |
| 3rd Low | 210.338 |
211.414 – 211.75 – 211.738 – 211.016 – 211.278 – 211.306 —
211.28400 – 211.08000 —
47.775448755894 – 41.001895935706 —
– —
211.41400 – 1767790800
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Inverted Hammer – Head and Shoulder chart pattern – – – – – – – –