GBP/JPY – 1H – SELLThe pair British Pound/Japanese Yen (GBP/JPY) jumps from the ascending trendline downwards
A bearish trend downwards to the next support line at 195.84100 is expected.
Caution: A possible change in the direction of the resistance line at 198.94600 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Three Black Crows’ chart pattern is detected. The candles show ‘Three Black Crows’. which is a bearish pattern 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’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 199.55300 |
| Next High | 198.94600 |
| Current Price | 197.75000 |
| Next Low | 195.84100 |
| 2nd Low | 194.63800 |
| 3rd Low | 194.18900 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Black Crows