GBP/JPY – 30M – SELLThe pair British Pound/Japanese Yen (GBP/JPY) goes from the bullish trendline downwards
A descending movement down to the next support at 196.62000 will continue.
Caution: A possible reversal of the trend in the direction of resistance at 197.51500 should be noted.
Consider stop-loss settings accordingly.
In addition a ‘Two Crows’ chart pattern is existing. The candles form ‘Two Crows’. which is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Two Crows’ going down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 199.37100 |
| 2nd High | 198.94600 |
| Next High | 197.51500 |
| Current Price | 196.80500 |
| Next Low | 196.62000 |
| 2nd Low | 196.30600 |
| 3rd Low | 195.73200 |