GBP/JPY – 30M – SELLThe currency pair British Pound/Japanese Yen (GBP/JPY) goes from the ascending trendline downwards
A bearish movement down to the next support level at 189.35000 is considered certain.
Caution: A possible change in the direction of the resistance level at 191.28000 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is considered certain. Current target is 190.185 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the support level at 191.28000 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Three Black Crows’ candle chart pattern is found. The candles show ‘Three Black Crows’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 192.46500 |
| 2nd High | 192.29800 |
| Next High | 191.28000 |
| Current Price | 191.12500 |
| Next Low | 189.35000 |
| 2nd Low | 188.07200 |
| 3rd Low | 186.68500 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Black Crows