Hello traders! Today we have a very nice setup on FX:GBPJPY. As we see on the chart the market has broken the neckline of H&S, resistance is now a support; which means we are not in a bullish trend. Currently we have 3 potential harmonic pattern. 1. Big cypher 2. Little cypher 3. Bat
According to my analyzes the best reversal zone is "PRZ 1" which is a completion levels of little cypher and bat patterns; plus OR zone. Besides there is an opportunity that price will reverse at the neckline level. -- Avto_T Financial Analyst rcpforex.com