GBP/JPY – 1H – SELLCorrection of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is likely expected. Target of the current trend is 212.5185 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the support level at 214.999 could occur.
Consider stop-loss settings accordingly.
Next a ‘Tweezers Top’ candle chart pattern is existing. The candles show ‘Tweezers Top’. which is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Tweezers Top’ going down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 214.999 |
| Current Price | 213.15600 |
| Next Low | 211.279 |
| 2nd Low | 210.038 |
| 3rd Low | 209.784 |
214.999 – 212.822 – 212.157 – 213.673 – 211.279 – 211.489 —
213.75700 – 213.72100 —
40.477324503983 – 44.708695209653 —
– —
214.999 – 1770213600
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Tweezers Top – Rising Wedge Chart Pattern – – – – – – – –