GBP/JPY – 1H – BUYNext a ‘Bullish Engulfing’ candlestick chart pattern is discovered. The chart shows ‘Bullish Engulfing’. which is a positive chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Engulfing’ going up is 63%.
Next a ‘Double top chart pattern’ chart formation is discovered. The chart picture forms ‘Double top chart pattern’. which is a negative pattern signal. The currency pair is likely to fall.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 191.54900 |
| 2nd High | 191.33900 |
| Next High | 191.25400 |
| Current Price | 190.55500 |
| Next Low | 190.39200 |
| 2nd Low | 189.29800 |
| 3rd Low | 188.19900 |
191.25400 – 191.33900 – 191.54900 – 190.39200 – 190.52500 – 190.66000
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Bullish Engulfing