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