GBP/JPY – 30M – SELLThe currency pair British Pound/Japanese Yen (GBP/JPY) goes from the ascending trendline downwards
A bearish trend down to the next support line at 197.69200 is considered certain.
Caution: A possible reversal of the trend in the direction of resistance at 198.43800 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Three Black Crows’ candlestick chart pattern is detected. The chart forms ‘Three Black Crows’. which is a negative pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 198.91900 |
| 2nd High | 198.45500 |
| Next High | 198.43800 |
| Current Price | 198.20500 |
| Next Low | 197.69200 |
| 2nd Low | 197.07200 |
| 3rd Low | 196.64800 |