GBP/JPY – 1H – SELLThe currency pair British Pound/Japanese Yen (GBP/JPY) jumps from the descending trendline downwards
A continuation of the bearish trend down to the next support line at 195.84100 is certain.
Caution: A possible reversal of the trend in the direction of resistance at 198.25200 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Three Black Crows’ candle chart pattern is existing. The chart shows ‘Three Black Crows’. this is a bearish chart scenario. 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%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 199.55300 |
| 2nd High | 198.94600 |
| Next High | 198.25200 |
| Current Price | 197.06100 |
| Next Low | 195.84100 |
| 2nd Low | 194.63800 |
| 3rd Low | 194.18900 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Black Crows