GBP/JPY – 1H – SELL

The pair British Pound/Japanese Yen (GBP/JPY) goes from the ascending trendline down.

A descent downwards to the next support line at 196.59900 will persist.

Caution: A possible trend reversal in the direction of the resistance level at 197.62000 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.

Then a ‘Three Black Crows’ candle pattern is existing. The chart forms ‘Three Black Crows’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ going down is 82%.

Download GBP/JPY Signal Image

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Black Crows