GBP/JPY – 30M – SELLThe currency pair British Pound/Japanese Yen (GBP/JPY) goes from the bullish trendline down.
The bearish trend down to the next support line at 188.46600 will persist.
Caution: A possible counter-trend in the direction of the resistance level at 191.28000 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Three Black Crows’ chart pattern is detected. The chart shows ‘Three Black Crows’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 192.46500 |
| 2nd High | 192.29800 |
| Next High | 191.28000 |
| Current Price | 189.73700 |
| Next Low | 188.46600 |
| 2nd Low | 188.16400 |
| 3rd Low | 186.68500 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Black Crows