GBP/JPY – 1H – BUYThe pair British Pound/Japanese Yen (GBP/JPY) moves from the descending trendline down.
A continuation of the downward movement down to the next support level at will persist.
Caution: A possible change in the direction of the resistance level at 189.14500 could occur.
Consider stop-loss settings accordingly.
Additionally a ‘Exponential Moving Average 100 (EMA 100)’ indicator layout is existing. The indicator shows ‘Exponential Moving Average 100 (EMA 100)’. this is usually a bearish signal. The currency pair is likely to fall.
Additionally a ‘Matching Low’ candle pattern is existing. The candles form ‘Matching Low’. this is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 189.65200 |
| 2nd High | 189.34800 |
| Next High | 189.14500 |
| Current Price | 188.56600 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
189.14500 – 189.34800 – 189.65200 – 188.06700 – 187.45700 – 186.57400
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Matching Low