GBP/JPY – 1H – SELLThe currency pair British Pound/Japanese Yen (GBP/JPY) jumps from the bullish trendline down.
A bearish trend downwards to the next support at 194.18900 will continue.
Caution: A possible change in the direction of the resistance line at 197.51500 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Bearish Harami’ candle pattern is existing. The candles form ‘Bearish Harami’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Harami’ heading down is 53% (Bull Market) & 50% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 199.55300 |
| 2nd High | 198.94600 |
| Next High | 197.51500 |
| Current Price | 194.93100 |
| Next Low | 194.18900 |
| 2nd Low | 194.05400 |
| 3rd Low | 193.62500 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Bearish Harami