The currency pair British Pound/Japanese Yen (GBP/JPY) goes from the bearish trendline down.
A continuation of the bearish trend downwards to the next support level at 188.70000 will persist.
Caution: A possible counter-trend in the direction of the resistance zone at 191.28000 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
There is also a ‘Bearish Engulfing’ candlestick chart pattern is detected. The candles show ‘Bearish Engulfing’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ going down is 79%.
Support & Resistance | Price Range* |
---|---|
3rd High | 192.46500 |
2nd High | 192.29800 |
Next High | 191.28000 |
Current Price | 189.13800 |
Next Low | 188.70000 |
2nd Low | 186.68500 |
3rd Low | 185.81900 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Bearish Engulfing