GBP/JPY – 1H – SELL

The combination British Pound/Japanese Yen (GBP/JPY) goes from the bullish trendline down.

A descent down to the next support line at 188.19900 will continue.

Caution: A possible counter-trend in the direction of resistance at 190.30800 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.

Correction of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend will continue. Current target is 188.884 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of support at 190.30800 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.

Then a ‘Two Crows’ candle pattern is found. The chart forms ‘Two Crows’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Two Crows’ heading down is 54% (Bull Market) & 58% (Bear Market).

190.30800 – 189.95600 – 188.76800 – 188.19900 – 187.46000 – 187.99600

Download GBP/JPY Signal Image

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Two Crows