GBP/JPY – 1H – SELLNext a ‘Bearish Engulfing’ candle chart pattern is found. The candles form ‘Bearish Engulfing’. which is a negative signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 193.72400 |
| 2nd High | 192.46500 |
| Next High | 192.29800 |
| Current Price | 190.22900 |
| Next Low | 189.84600 |
| 2nd Low | 189.56100 |
| 3rd Low | 188.70000 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Bearish Engulfing