GBP/JPY – 30M – SELLThe combination British Pound/Japanese Yen (GBP/JPY) jumps from the bearish trendline down.
A continuation of the downtrend downwards to the next support line at 208.38 will persist.
Caution: A possible counter-trend in the direction of resistance at 208.939 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Shooting Star’ candlestick pattern is detected. The candles form ‘Shooting Star’. which is a negative pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Shooting Star’ going down is 59% (Bull Market) & 60% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 209.678 |
| 2nd High | 209.532 |
| Next High | 208.939 |
| Current Price | 209.26200 |
| Next Low | 208.38 |
| 2nd Low | 208.076 |
| 3rd Low | 207.612 |
208.939 – 209.532 – 209.207 – 208.38 – 208.076 – 207.612 —
208.81000 – 209.37800 —
55.839790569722 – 67.271652614691 —
– —
208.939 – 1771551000
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Shooting Star – Double bottom chart pattern – – – – – – – –