GBP/JPY – 30M – SELLThe pair British Pound/Japanese Yen (GBP/JPY) moves from the bullish trendline downwards
A bearish movement downwards to the next support line at 193.82700 is certain.
Caution: A possible trend reversal in the direction of the resistance zone at 195.76500 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Falling Window’ candle chart pattern is discovered. The candles show ‘Falling Window’. this is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Falling Window’ heading down is 67% (Bull Market) and 73% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 195.89500 |
| 2nd High | 195.79200 |
| Next High | 195.76500 |
| Current Price | 194.49000 |
| Next Low | 193.82700 |
| 2nd Low | 193.62500 |
| 3rd Low | 192.85100 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Falling Window