GBP/JPY – 30M – SELLCorrection of the major bullish trend broke the Fibonacci 0.24-Level.Continuation of the current descending trend is certain. Target of the current trend is 195.6715 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the support level at 197.78100 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Then a ‘Three Black Crows’ chart pattern is detected. The candles form ‘Three Black Crows’. this is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 198.45500 |
| 2nd High | 198.43800 |
| Next High | 197.78100 |
| Current Price | 196.47800 |
| Next Low | 193.56200 |
| 2nd Low | 192.87700 |
| 3rd Low | 191.73000 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Black Crows