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- Harmonic Pattern Formed- Bearish Bat pattern
- Potential Reversal Zone (PPRZ) – 162.80
- GBP/JPY has completed Bearish Bat Pattern at 161.80 and slightly declined from that level. It is currently trading around 160.88.
- Short term trend is lightly weak as long as resistance 162.80 holds.
- Any break above 162.80 will take the pair to next level till 164.10/165.
- On the lower side support is around 160 and nay break below targets 159.20/158.
It is good to sell on rallies around 161.80 with SL around 162.80 for the TP of 160/159.15
R1-161.80
R2-162.80
R3-164.10
Support
S1-160
S2-159.15
S3-158
