GBP/JPY – 30M – SELLThe combination British Pound/Japanese Yen (GBP/JPY) jumps from the bullish trendline down.
The bearish trend downwards to the next support at is likely expected.
Caution: A possible change in the direction of the resistance line at 199.8 could be enabled.
Consider stop-loss settings accordingly.
In addition a ‘Exponential Moving Average 100 (EMA 100)’ indicator layout is found. The indicator shows ‘Exponential Moving Average 100 (EMA 100)’. this is usually a bearish chart signal. The currency pair is likely to fall.
In addition a ‘Tweezers Top’ chart pattern is found. The chart forms ‘Tweezers Top’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Tweezers Top’ going down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 200.142 |
| 2nd High | 199.87 |
| Next High | 199.8 |
| Current Price | 199.39400 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
199.8 – 199.457 – 199.87 – 198.786 – 198.669 – 198.267 — 50.47392772317 – 45.80041459238 — 73.26041280435 – 72.376714868372 – 66.634738186462 – 68.186874304783
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Tweezers Top – Double bottom retreat down – –