GBP/JPY – 1H – SELLThe pair British Pound/Japanese Yen (GBP/JPY) moves from the ascending trendline downwards
The bearish trend downwards to the next support level at 195.73200 is certain.
Caution: A possible trend reversal in the direction of the resistance zone at 198.94600 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Three Black Crows’ candle chart pattern is found. The candles show ‘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’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 199.55300 |
| Next High | 198.94600 |
| Current Price | 196.80500 |
| Next Low | 195.73200 |
| 2nd Low | 194.05400 |
| 3rd Low | 193.62500 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Black Crows