The pair British Pound/Japanese Yen (GBP/JPY) moves from the bullish trendline downwards
A bearish movement downwards to the next support at 217.304 will continue.
Caution: A possible trend reversal in the direction of the resistance zone at 218.939 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Three Black Crows’ chart pattern is existing. The chart forms ‘Three Black Crows’. this is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 219.528 |
| 2nd High | 219.396 |
| Next High | 218.939 |
| Current Price | 218.06800 |
| Next Low | 217.304 |
| 2nd Low | 216.863 |
| 3rd Low | 216.706 |
218.939 – 219.396 – 219.528 – 218.668 – 218.844 – 219.192 —
218.76500 – 218.36800 —
45.367562196556 – 30.182662215649 —
– —
218.939 – 1784260800
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Black Crows – Rising Wedge Chart Pattern – – – – – – – –