GBP/JPY – 30M – SELLThe currency pair British Pound/Japanese Yen (GBP/JPY) moves from the bullish trendline down.
A bearish descent down to the next support level at 190.33800 will persist.
Caution: A possible trend reversal in the direction of resistance at 192.29800 should always be considered.
Consider stop-loss settings accordingly.
There is also a ‘Bearish Engulfing’ candlestick pattern is detected. The chart shows ‘Bearish Engulfing’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 192.61500 |
| 2nd High | 192.46500 |
| Next High | 192.29800 |
| Current Price | 191.55500 |
| Next Low | 190.33800 |
| 2nd Low | 189.35000 |
| 3rd Low | 188.07200 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Bearish Engulfing