GBP/JPY – 30M – SELLThe currency pair British Pound/Japanese Yen (GBP/JPY) moves from the bullish trendline downwards
A descending movement down to the next support line at 190.33800 is certain.
Caution: A possible trend reversal in the direction of resistance at 192.20900 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Evening Star’ candle pattern is existing. The candles form ‘Evening Star’. which is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Evening Star’ going down is 72% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 192.46500 |
| 2nd High | 192.29800 |
| Next High | 192.20900 |
| Current Price | 191.39200 |
| Next Low | 190.33800 |
| 2nd Low | 189.35000 |
| 3rd Low | 188.07200 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Evening Star