GBPJPY- Bearish BAT Pattern
Harmonic pattern- Bearish BAT pattern
GBPJPY pared most of its gain on the weak Pound sterling. It hits a high of 195.18 yesterday and is currently trading around 193.315. Overall trend remains bearish as long as resistance 196 holds.
The near-term resistance is around 193.50,a breach above targets 194.25/195/195.97. Major trend continuation only above 196. The immediate support is at 193, any violation below will drag the pair to 192.50/191.50/190/188/185.85
It is good to sell on rallies around 192.78-80 with SL around 193.60 for a TP of 190.20.
GBPJPY pared most of its gain on the weak Pound sterling. It hits a high of 195.18 yesterday and is currently trading around 193.315. Overall trend remains bearish as long as resistance 196 holds.
The near-term resistance is around 193.50,a breach above targets 194.25/195/195.97. Major trend continuation only above 196. The immediate support is at 193, any violation below will drag the pair to 192.50/191.50/190/188/185.85
It is good to sell on rallies around 192.78-80 with SL around 193.60 for a TP of 190.20.
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