The currency pair British Pound/Japanese Yen (GBP/JPY) goes from the bullish trendline down.
The bearish trend downwards to the next support line at 204.578 will continue.
Caution: A possible counter-trend in the direction of the resistance zone at 206.044 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘MACD crosses below signal’ indicator layout is existing. The indicator is ‘MACD crosses below signal’. which is often a bearish chart signal. The pair is likely to go down.
Moreover a ‘Three Black Crows’ chart pattern is discovered. The candles form ‘Three Black Crows’. which is a negative chart scenario. 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 | |
| 2nd High | |
| Next High | 206.044 |
| Current Price | 205.85800 |
| Next Low | 204.578 |
| 2nd Low | 203.975 |
| 3rd Low | 203.883 |
206.044 – 205.364 – 204.737 – 204.578 – 203.975 – 203.883 —
205.94800 – 206.74000 —
63.195252281152 – 66.09479038992 —
– —
206.04400 – 1763627400
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Black Crows – Rising Wedge Chart Pattern – – – –