GBP/JPY – 30M – SELLThen a ‘Head and Shoulder chart pattern’ chart formation is discovered. The chart picture forms ‘Head and Shoulder chart pattern’. which is a bearish chart scenario. The currency pair is likely to fall.
The pair British Pound/Japanese Yen (GBP/JPY) moves from the descending trendline down.
A continuation of the bearish trend down to the next support level at is considered certain.
Caution: A possible change in the direction of the resistance zone at 211.414 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is discovered. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. which is often a bearish signal. The currency pair is likely to fall.
Then a ‘%K crosses below %D’ indicator signal is discovered. The indicator shows ‘%K crosses below %D’. which is often a bearish signal. The currency pair is likely to fall.
Then a ‘Two Crows’ candle chart pattern is found. The chart forms ‘Two Crows’. this is a bearish 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 ‘Two Crows’ going down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 212.075 |
| 2nd High | 211.75 |
| Next High | 211.414 |
| Current Price | 211.04300 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
211.414 – 211.75 – 211.738 – 211.016 – 211.278 – 211.306 —
210.92800 – 211.15500 —
33.789917368374 – 55.925155581307 —
– —
211.41400 – 1767790800
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Two Crows – Head and Shoulder chart pattern – – – – – – – –