GBP/JPY – 30M – SELLThe combination British Pound/Japanese Yen (GBP/JPY) moves from the bullish trendline down.
A descending movement down to the next support line at 194.63800 is expected.
Caution: A possible counter-trend in the direction of resistance at 197.51500 could happen.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Three Black Crows’ candlestick pattern is existing. 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 chance of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 199.37100 |
| 2nd High | 198.94600 |
| Next High | 197.51500 |
| Current Price | 196.53500 |
| Next Low | 194.63800 |
| 2nd Low | 194.18900 |
| 3rd Low | 194.05400 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Black Crows