GBP/JPY – 30M – SELL

The currency pair British Pound/Japanese Yen (GBP/JPY) jumps from the descending trendline downwards

A continuation of the downward movement downwards to the next support line at 192.85100 is likely expected.

Caution: A possible reversal of the trend in the direction of the resistance level at 193.85900 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is likely expected. Current target is 193.355804 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of the support zone at 193.85900 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

Moreover a ‘Three Black Crows’ candlestick chart pattern is detected. The candles form ‘Three Black Crows’. which is a negative pattern signal. The 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%.

Download GBP/JPY Signal Image

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Black Crows