GBP/JPY – 30M – SELLThe pair British Pound/Japanese Yen (GBP/JPY) moves from the bearish trendline down.
A continuation of the downtrend downwards to the next support at 196.11100 is expected.
Caution: A possible counter-trend in the direction of resistance at 197.78100 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Three Black Crows’ candle pattern is detected. The chart shows ‘Three Black Crows’. this is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 198.45500 |
| 2nd High | 198.43800 |
| Next High | 197.78100 |
| Current Price | 194.74100 |
| Next Low | 196.11100 |
| 2nd Low | 193.56200 |
| 3rd Low | 192.87700 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Black Crows