GBP/JPY – 4H – BUYThe currency pair British Pound/Japanese Yen (GBP/JPY) breaks through the bullish trendline upwards
A continuation of the upward movement upwards to the next resistance at will continue.
Caution: A possible change in the direction of support at 206.181 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Bearish Harami Cross’ chart pattern is discovered. The candles form ‘Bearish Harami Cross’. this 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 Harami Cross’ heading down is 57% (Bull Market) & 56% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | |
| Current Price | 207.68100 |
| Next Low | 206.181 |
| 2nd Low | 205.19 |
| 3rd Low | 204.284 |
207.355 – 207.194 – 206.852 – 206.181 – 205.19 – 204.284 —
207.24200 – 207.71900 —
61.576998650013 – 62.907145806975 —
– —
207.35500 – 1764820800
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Bearish Harami Cross – Double top retreat up – – – – – – – –