GBP/JPY – 30M – SELLThe currency pair British Pound/Japanese Yen (GBP/JPY) moves from the bearish trendline downwards
A continuation of the bearish trend down to the next support line at 191.81400 is considered certain.
Caution: A possible change in the direction of resistance at 192.46500 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Bearish Engulfing’ candlestick pattern is discovered. The candles show ‘Bearish Engulfing’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 193.72400 |
| 2nd High | 192.61500 |
| Next High | 192.46500 |
| Current Price | 192.21300 |
| Next Low | 191.81400 |
| 2nd Low | 191.59400 |
| 3rd Low | 190.68000 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Bearish Engulfing