GBP/JPY – 30M – SELLThe pair British Pound/Japanese Yen (GBP/JPY) moves from the ascending trendline down.
The bearish trend downwards to the next support line at 195.84100 is considered certain.
Caution: A possible change in the direction of resistance at 198.19200 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
There is also a ‘Tweezers Top’ candle pattern is discovered. The chart forms ‘Tweezers Top’. which is a negative signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Tweezers Top’ going down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 198.94600 |
| 2nd High | 198.25200 |
| Next High | 198.19200 |
| Current Price | 197.16100 |
| Next Low | 195.84100 |
| 2nd Low | 194.63800 |
| 3rd Low | 194.18900 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Tweezers Top