GBP/JPY – 30M – SELLThe combination British Pound/Japanese Yen (GBP/JPY) goes from the descending trendline downwards
A continuation of the bearish trend down to the next support at 188.16400 is expected.
Caution: A possible change in the direction of the resistance level at 190.37300 could be enabled.
Consider stop-loss settings accordingly.
Additionally a ‘Three Black Crows’ chart pattern is detected. The chart forms ‘Three Black Crows’. this is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 192.29800 |
| 2nd High | 191.28000 |
| Next High | 190.37300 |
| Current Price | 188.45900 |
| Next Low | 188.16400 |
| 2nd Low | 186.68500 |
| 3rd Low | 185.81900 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Black Crows