GBP/JPY – 30M – SELLThe currency pair British Pound/Japanese Yen (GBP/JPY) moves from the bullish trendline down.
A bearish trend down to the next support level at 195.74500 is certain.
Caution: A possible reversal of the trend in the direction of the resistance level at 198.94500 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Three Black Crows’ candle chart pattern is existing. The candles show ‘Three Black Crows’. which is a negative chart scenario. 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 | 199.55300 |
| 2nd High | 199.37100 |
| Next High | 198.94500 |
| Current Price | 196.57600 |
| Next Low | 195.74500 |
| 2nd Low | 194.05400 |
| 3rd Low | 193.82700 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Black Crows