GBP/JPY – 30M – SELLThe pair British Pound/Japanese Yen (GBP/JPY) goes from the bullish trendline downwards
The bearish trend down to the next support at 191.48400 is likely expected.
Caution: A possible counter-trend in the direction of the resistance line at 192.78200 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
There is also a ‘Bearish Engulfing’ chart pattern is detected. The candles show ‘Bearish Engulfing’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 194.76600 |
| 2nd High | 192.90700 |
| Next High | 192.78200 |
| Current Price | 192.68100 |
| Next Low | 191.48400 |
| 2nd Low | 190.07100 |
| 3rd Low | 189.35000 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Bearish Engulfing