GBP/JPY – 1H – SELL

The pair British Pound/Japanese Yen (GBP/JPY) moves from the descending trendline down.

A continuation of the downward movement down to the next support level at 196.59900 will persist.

Caution: A possible reversal of the trend in the direction of the resistance line at 197.05700 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

Also there is a ‘Three Black Crows’ candle chart pattern is existing. The chart shows ‘Three Black Crows’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Black Crows’ heading down is 82%.

Download GBP/JPY Signal Image

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