GBP/JPY – 1H – BUYThe currency pair British Pound/Japanese Yen (GBP/JPY) goes from the bullish trendline downwards
A descent down to the next support line at 192.44600 will continue.
Caution: A possible counter-trend in the direction of the resistance zone at 194.62100 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Bullish Harami’ candle pattern is existing. The chart forms ‘Bullish Harami’. this is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Harami’ going up is 53% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 197.78100 |
| 2nd High | 194.80200 |
| Next High | 194.62100 |
| Current Price | 193.84800 |
| Next Low | 192.44600 |
| 2nd Low | 190.59400 |
| 3rd Low | 190.33800 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Bullish Harami