GBP/JPY – 30M – SELLThe combination British Pound/Japanese Yen (GBP/JPY) goes from the bullish trendline down.
The bearish trend down to the next support at 192.51300 is certain.
Caution: A possible trend reversal in the direction of the resistance level at 194.62100 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Bearish SBS White Lines’ candlestick pattern is found. The candles form ‘Bearish SBS White Lines’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish SBS White Lines’ going down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 196.41700 |
| 2nd High | 194.80200 |
| Next High | 194.62100 |
| Current Price | 194.40400 |
| Next Low | 192.51300 |
| 2nd Low | 192.44600 |
| 3rd Low | 190.59400 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Bearish SBS White Lines