GBP/JPY – 4H – SELL

Next a ‘Double bottom retreat down’ chart layout is discovered. The chart forms ‘Double bottom retreat down’. this is a bearish pattern signal. The pair is likely to go down.

The pair British Pound/Japanese Yen (GBP/JPY) jumps from the bullish trendline down.

A descending movement down to the next support at 202.34 will persist.

Caution: A possible change in the direction of the resistance line at 204.063 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.

Next a ‘Three Black Crows’ chart pattern is found. The candles form ‘Three Black Crows’. 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 likelyhood of ‘Three Black Crows’ going down is 82%.

204.063 – 203.258 – 204.239 – 202.34 – 199.058 – 200.56 —
203.60200 – 204.29300 —
57.741967076372 – 61.521445531054 —
– —
204.06300 – 1763049600

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Black Crows – Double bottom retreat down – – – –