GBP/JPY – 1H – SELL

The combination British Pound/Japanese Yen (GBP/JPY) jumps from the bullish trendline downwards

A descending movement down to the next support line at 203.69 is expected.

Caution: A possible reversal of the trend in the direction of the resistance line at 204.73700 is also possible.
In the case of a trade, always set appropriate stop-loss settings.

Correction of the major bullish trend broke the Fibonacci 0.24-Level.Continuation of the current descending trend is expected. Current target is 203.5315 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the support line at 204.73700 is also possible.
In the case of a trade, always set appropriate stop-loss settings.

Next a ‘Three Black Crows’ candle pattern is existing. The candles show ‘Three Black Crows’. which is a negative chart scenario. 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%.

204.73700 – 204.52 – 203.946 – 203.69 – 202.34 – 202.764 —
204.73700 – 204.34800 —
64.683269194743 – 48.051715228422 —
204.73700 – 1763496000 —
– 1763496000

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Black Crows – Double top chart pattern – – – –