GBP/JPY – 30M – SELLCorrection of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend will persist. Target of the current trend is 190.326 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of support at 192.29800 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Three Black Crows’ candlestick pattern is discovered. The candles show ‘Three Black Crows’. which is a negative chart scenario. 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 | 192.61500 |
| 2nd High | 192.46500 |
| Next High | 192.29800 |
| Current Price | 190.35500 |
| Next Low | 190.32600 |
| 2nd Low | 189.84600 |
| 3rd Low | 189.56100 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Black Crows