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FxWirePro: GBP/JPY forms bearish BAT pattern, good to buy at dips

Harmonic Pattern formed - Bullish Cypher pattern (Long term) Harmonic pattern formed- Bearish BAT pattern (Short term) Potential Reversal Zone (PRZ)- 183.50 Any break above 186.30 will take the pair to 187/187.45. On the…

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FxWirePro: GBP/JPY forms bearish BAT pattern, good to buy at dips
Image from the original EconoTimes article

Harmonic Pattern formed - Bullish Cypher pattern (Long term)

Harmonic pattern formed- Bearish BAT pattern (Short term)

Potential Reversal Zone (PRZ)- 183.50

  • Any break above 186.30 will take the pair to 187/187.45.
     
  • On the downside pair's major support is around 183.50 and break below targets 182.75/182.50 in  short term.
     
  • The pair's minor resistance is around 184.45 and any break above targets 185.05/185.30/186

It is good to buy at dips around 184.20-25 with SL around 183.50 for the TP of 185.30/186   

 

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