GBP/JPY – 30M – SELLCorrection of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend will persist. Target of the current trend is 193.472 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of support at 196.01100 could occur.
Consider stop-loss settings accordingly.
There is also a ‘Bearish Harami’ candle chart pattern is found. The chart shows ‘Bearish Harami’. which is a negative signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Harami’ heading down is 53% (Bull Market) & 50% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 198.19200 |
| 2nd High | 197.53900 |
| Next High | 196.01100 |
| Current Price | 194.47900 |
| Next Low | 193.47200 |
| 2nd Low | 192.85100 |
| 3rd Low | 192.51300 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Bearish Harami