GBP/JPY – 30M – SELLThe currency pair British Pound/Japanese Yen (GBP/JPY) moves from the descending trendline downwards
A continuation of the bearish trend downwards to the next support line at 196.31600 will persist.
Caution: A possible change in the direction of the resistance level at 198.94600 is also possible.
Consider stop-loss settings accordingly.
In addition a ‘Two Crows’ candle pattern is detected. The candles show ‘Two Crows’. this is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Two Crows’ going down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 199.55300 |
| 2nd High | 199.37100 |
| Next High | 198.94600 |
| Current Price | 196.36300 |
| Next Low | 196.31600 |
| 2nd Low | 196.31000 |
| 3rd Low | 195.74500 |