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GBP/JPY forms Bullish BAT pattern, good to sell on rallies

FX:GBPJPY   British Pound/Japanese Yen
409 1 8
Harmonic Pattern Formed- Bullish BAT Pattern

Potential Reversal Zone (PRZ)- 187.50.

GBP/JPY             has retreated after making a high of 188.28. It is currently trading at 186.12.

Short term trend is bearish as long as resistance 187.50 holds.

On the higher side any break above will target 188/188.25.

The pair's short term support is around 185.80 and any break below will drag the pair till 185/184.60.

It is good to sell on rallies around 186.55-60 with SL around 187.50 for the TP of 185/184.60
ForexisbizFib
a year ago
Agreed.
Reply
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