Sell 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).

Support & Resistance Price Range*
3rd High 195.76700
2nd High 193.66300
Next High 190.30800
Current Price 189.43400
Next Low 188.19900
2nd Low 187.46000
3rd Low 187.45700

190.30800 – 189.95600 – 188.76800 – 188.19900 – 187.46000 – 187.99600

Download GBP/JPY Signal Image

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