GBP/JPY – 30M – SELLThe currency pair British Pound/Japanese Yen (GBP/JPY) jumps from the descending trendline down.
A continuation of the bearish trend downwards to the next support line at 189.35000 is considered certain.
Caution: A possible change in the direction of the resistance level at 191.52300 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Bearish SBS White Lines’ candlestick chart pattern is discovered. The chart shows ‘Bearish SBS White Lines’. this is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish SBS White Lines’ going down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 192.46500 |
| 2nd High | 192.29800 |
| Next High | 191.52300 |
| Current Price | 191.26600 |
| Next Low | 189.35000 |
| 2nd Low | 188.07200 |
| 3rd Low | 186.68500 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Bearish SBS White Lines