GBP/JPY – 30M – SELLThe combination British Pound/Japanese Yen (GBP/JPY) goes from the bearish trendline down.
A continuation of the downward movement down to the next support at 192.92300 is likely expected.
Caution: A possible counter-trend in the direction of the resistance line at 193.85900 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Three Black Crows’ candlestick pattern is discovered. The chart forms ‘Three Black Crows’. this is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 196.41700 |
| 2nd High | 194.99000 |
| Next High | 193.85900 |
| Current Price | 193.61800 |
| Next Low | 192.92300 |
| 2nd Low | 192.51300 |
| 3rd Low | 192.44600 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Black Crows