GBP/JPY – 1H – SELLThe currency pair British Pound/Japanese Yen (GBP/JPY) jumps from the bearish trendline downwards
A continuation of the downtrend downwards to the next support at 192.51300 is certain.
Caution: A possible reversal of the trend in the direction of the resistance zone at 194.76600 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Three Black Crows’ candlestick chart pattern is existing. The candles show ‘Three Black Crows’. which is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 198.25200 |
| 2nd High | 197.53900 |
| Next High | 194.76600 |
| Current Price | 192.68100 |
| Next Low | 192.51300 |
| 2nd Low | 192.44600 |
| 3rd Low | 190.59400 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Black Crows