GBP/JPY – 30M – SELLThe combination British Pound/Japanese Yen (GBP/JPY) jumps from the ascending trendline downwards
The bearish trend downwards to the next support level at 194.63800 will continue.
Caution: A possible trend reversal in the direction of the resistance level at 197.51500 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Bearish Harami’ chart pattern is found. The candles show ‘Bearish Harami’. this is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Harami’ going down is 53% (Bull Market) & 50% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 199.37100 |
| 2nd High | 198.94600 |
| Next High | 197.51500 |
| Current Price | 195.86900 |
| Next Low | 194.63800 |
| 2nd Low | 194.18900 |
| 3rd Low | 194.05400 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Bearish Harami