GBP/JPY – 30M – SELLThe pair British Pound/Japanese Yen (GBP/JPY) jumps from the descending trendline downwards
A continuation of the bearish trend down to the next support line at 194.05400 will continue.
Caution: A possible trend reversal in the direction of resistance at 197.51500 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Three Black Crows’ candlestick chart pattern is discovered. The candles form ‘Three Black Crows’. which is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 199.37100 |
| 2nd High | 198.94600 |
| Next High | 197.51500 |
| Current Price | 194.49800 |
| Next Low | 194.05400 |
| 2nd Low | 193.82700 |
| 3rd Low | 193.62500 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Black Crows