GBP/JPY – 1H – SELLThe currency pair British Pound/Japanese Yen (GBP/JPY) goes from the bullish trendline downwards
A bearish descent down to the next support at 192.92300 will persist.
Caution: A possible reversal of the trend in the direction of the resistance line at 194.99000 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Three Black Crows’ candle pattern is existing. The candles form ‘Three Black Crows’. which is a bearish signal. The currency pair is likely to fall. 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 | 198.43800 |
| 2nd High | 197.78100 |
| Next High | 194.99000 |
| Current Price | 192.94600 |
| Next Low | 192.92300 |
| 2nd Low | 192.51300 |
| 3rd Low | 192.44600 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Black Crows