GBP/JPY – 1H – SELLThe combination British Pound/Japanese Yen (GBP/JPY) goes from the descending trendline downwards
A continuation of the bearish trend down to the next support line at 190.07100 is considered certain.
Caution: A possible counter-trend in the direction of the resistance zone at 192.90700 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Then a ‘Three Black Crows’ candle chart pattern is found. The chart forms ‘Three Black Crows’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 197.53900 |
| 2nd High | 194.76600 |
| Next High | 192.90700 |
| Current Price | 191.75200 |
| Next Low | 190.07100 |
| 2nd Low | 188.07200 |
| 3rd Low |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Black Crows