Harmonic pattern formed: Bearish BAT pattern
Potential Reversal Zone (PRZ)- 188
- GBP/JPY has recovered till 187.33 after making a low of 185.92 yesterday. It is currently trading at 186.25.
- Short term trend is bearish as long as resistance 187.50 holds.
- Any break above 187.50 will take the pair to next level till 188.
- Overall trend reversal only above 188.
- On the downside minor support is around 185.80 and any break below will drag the pair till 185/184.30.
It is good to sell on rallies around 186.85-90 with SL around 188 for the TP of 185/184.30
