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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 187.30-35 with SL around 188 for the TP of 185/184.60
Resistance
R1- 187.50
R2-188
R3- 188.25
Support
S1-185.80
S2-185
S3-184.60
