GBP/JPY – 30M – SELLThe combination British Pound/Japanese Yen (GBP/JPY) goes from the bullish trendline downwards
A descending movement downwards to the next support at 188.19900 will continue.
Caution: A possible reversal of the trend in the direction of resistance at 190.08600 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Falling Window’ candle chart pattern is existing. The chart shows ‘Falling Window’. this is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Falling Window’ going down is 67% (Bull Market) and 73% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 191.75400 |
| 2nd High | 190.28700 |
| Next High | 190.08600 |
| Current Price | 190.01100 |
| Next Low | 188.19900 |
| 2nd Low | 187.46000 |
| 3rd Low | 187.45700 |
189.95600 – 188.76800 – 188.84300 – 188.19900 – 187.46000 – 188.02300
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Falling Window