GBP/JPY – 30M – SELLThe combination British Pound/Japanese Yen (GBP/JPY) moves from the ascending trendline downwards
A descent downwards to the next support at 193.56200 will persist.
Caution: A possible trend reversal in the direction of the resistance zone at 195.99500 should always be considered.
Consider stop-loss settings accordingly.
Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend will persist. Current target is 193.562 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of support at 195.99500 should always be considered.
Consider stop-loss settings accordingly.
And also a ‘Three Black Crows’ candle pattern is found. The candles show ‘Three Black Crows’. which 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 ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 198.43800 |
| 2nd High | 196.14300 |
| Next High | 195.99500 |
| Current Price | 193.91400 |
| Next Low | 193.56200 |
| 2nd Low | 192.87700 |
| 3rd Low | 191.73000 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Black Crows