GBP/JPY – 30M – SELLThe pair British Pound/Japanese Yen (GBP/JPY) jumps from the bullish trendline downwards
A bearish trend downwards to the next support line at 197.07200 is likely expected.
Caution: A possible counter-trend in the direction of the resistance line at 198.43800 could be enabled.
Consider stop-loss settings accordingly.
Next a ‘Three Black Crows’ candle chart pattern is discovered. The candles show ‘Three Black Crows’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 198.91900 |
| 2nd High | 198.45500 |
| Next High | 198.43800 |
| Current Price | 196.33300 |
| Next Low | 197.07200 |
| 2nd Low | 196.64800 |
| 3rd Low | 196.48700 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Black Crows