GBP/JPY – 30M – BUYFurthermore a ‘Bearish Belt Hold’ chart pattern is discovered. The candles show ‘Bearish Belt Hold’. which is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Belt Hold’ going down is 68% (Bull Market) & 69% (Bear Market).
Furthermore a ‘Double top chart pattern’ chart formation is found. The chart shows ‘Double top chart pattern’. which is a negative chart scenario. The currency pair is likely to fall.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 190.08600 |
| 2nd High | 189.82100 |
| Next High | 189.65200 |
| Current Price | 188.05900 |
| Next Low | 186.57400 |
| 2nd Low | 186.02000 |
| 3rd Low | 184.37000 |
189.65200 – 189.53800 – 189.55200 – 188.54100 – 188.64000 – 188.54300
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Bearish Belt Hold