GBP/JPY – 30M – SELLThe currency pair British Pound/Japanese Yen (GBP/JPY) jumps from the ascending trendline down.
A bearish descent downwards to the next support line at 198.669 is considered certain.
Caution: A possible counter-trend in the direction of the resistance level at 200.264 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Three Black Crows’ candle chart pattern is discovered. The candles show ‘Three Black Crows’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 200.264 |
| Current Price | 200.00600 |
| Next Low | 198.669 |
| 2nd Low | 198.267 |
| 3rd Low | 198.119 |
199.785 – 198.657 – 198.813 – 198.669 – 198.267 – 198.281 — 64.569825760621 – 59.72775689463 — 81.943751308637 – 70.707498353561 – 85.110395923598 – 79.09647219963
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Black Crows – Rising Wedge Chart Pattern – –