GBP/JPY – 1H – SELLAnd also a ‘Bearish Engulfing’ candlestick pattern is discovered. The candles form ‘Bearish Engulfing’. which is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 198.45500 |
| 2nd High | 198.43800 |
| Next High | 197.78100 |
| Current Price | 197.57600 |
| Next Low | 194.05400 |
| 2nd Low | 193.62500 |
| 3rd Low | 192.85100 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Bearish Engulfing