GBP/JPY – 4H – SELLThe pair British Pound/Japanese Yen (GBP/JPY) moves from the ascending trendline down.
A bearish descent downwards to the next support level at 194.05400 is expected.
Caution: A possible trend reversal in the direction of the resistance level at 198.94500 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Then a ‘Three Black Crows’ candle pattern is detected. The candles form ‘Three Black Crows’. this is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 198.94500 |
| Current Price | 195.98200 |
| Next Low | 194.05400 |
| 2nd Low | 192.85100 |
| 3rd Low | 190.59400 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Black Crows