GBP/JPY – 1H – SELLThe pair British Pound/Japanese Yen (GBP/JPY) moves from the ascending trendline down.
A bearish descent downwards to the next support line at 189.97500 is considered certain.
Caution: A possible counter-trend in the direction of the resistance zone at 191.25400 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Exponential Moving Average 100 (EMA 100)’ indicator signal is detected. The indicator is ‘Exponential Moving Average 100 (EMA 100)’. which could be a negative signal. The currency pair is likely to fall.
In addition a ‘Two Crows’ candle chart pattern is detected. The candles show ‘Two Crows’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Two Crows’ going down is 54% (Bull Market) & 58% (Bear Market).
In addition a ‘Support Level’ indicator layout is found. The indicator shows ‘Support Level’. which could be a negative chart signal. The pair is likely to go down.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 191.54900 |
| 2nd High | 191.33900 |
| Next High | 191.25400 |
| Current Price | 190.46200 |
| Next Low | 189.97500 |
| 2nd Low | 189.29800 |
| 3rd Low | 188.19900 |
191.25400 – 191.33900 – 191.54900 – 189.97500 – 190.39200 – 190.52500