GBP/JPY – 4H – SELLThe currency pair British Pound/Japanese Yen (GBP/JPY) jumps from the ascending trendline down.
The bearish trend downwards to the next support line at 210.296 is expected.
Caution: A possible reversal of the trend in the direction of resistance at 212.146 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Two Crows’ chart pattern is existing. The chart shows ‘Two Crows’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Two Crows’ heading down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 212.146 |
| Current Price | 213.62000 |
| Next Low | 210.296 |
| 2nd Low | 210.251 |
| 3rd Low | 210.038 |
212.146 – 211.501 – 211.587 – 210.296 – 210.251 – 210.038 —
212.36700 – 214.28500 —
68.363831735094 – 84.331794650312 —
– —
212.14600 – 1767657600
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Two Crows – Rising Wedge Chart Pattern – – – – – – – –