GBP/JPY – 30M – SELLThe currency pair British Pound/Japanese Yen (GBP/JPY) jumps from the bullish trendline down.
A bearish descent down to the next support at 196.43900 will persist.
Caution: A possible trend reversal in the direction of resistance at 197.06600 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Bearish SBS White Lines’ candle pattern is found. The chart forms ‘Bearish SBS White Lines’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish SBS White Lines’ going down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 199.37100 |
| 2nd High | 198.94500 |
| Next High | 197.06600 |
| Current Price | 196.69600 |
| Next Low | 196.43900 |
| 2nd Low | 196.31000 |
| 3rd Low | 195.74500 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Bearish SBS White Lines