Buy GBP/JPY – 30M – BUY

The currency pair British Pound/Japanese Yen (GBP/JPY) goes from the descending trendline down.

A continuation of the downward movement downwards to the next support level at 193.62500 will persist.

Caution: A possible counter-trend in the direction of the resistance zone at 194.45500 is also possible.
In the case of a trade, always set appropriate stop-loss settings.

In addition a ‘Matching Low’ candlestick pattern is found. The chart forms ‘Matching Low’. which is a positive chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Matching Low’ heading up is 61% (Bull & Bear Market).

Support & Resistance Price Range*
3rd High 196.41700
2nd High 194.99000
Next High 194.45500
Current Price 194.29900
Next Low 193.62500
2nd Low 192.85100
3rd Low 192.51300

Download GBP/JPY Signal Image

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