GBP/JPY – 1H – SELLThe currency pair British Pound/Japanese Yen (GBP/JPY) jumps from the bullish trendline down.
A bearish movement downwards to the next support at 187.45700 is considered certain.
Caution: A possible trend reversal in the direction of resistance at 188.76800 could occur.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Bearish Harami’ candlestick chart pattern is found. The chart forms ‘Bearish Harami’. which is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Harami’ going down is 53% (Bull Market) & 50% (Bear Market).
In addition a ‘Double top chart pattern’ chart formation is found. The chart picture forms ‘Double top chart pattern’. this is a bearish signal. The currency pair is likely to fall.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 189.06800 |
| 2nd High | 188.84300 |
| Next High | 188.76800 |
| Current Price | 187.76100 |
| Next Low | 187.45700 |
| 2nd Low | 186.57400 |
| 3rd Low | 186.02000 |
188.76800 – 188.84300 – 189.06800 – 187.99600 – 188.06700 – 187.45700
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Bearish Harami