GBP/JPY – 1H – SELLThe currency pair British Pound/Japanese Yen (GBP/JPY) jumps from the bullish trendline down.
A bearish trend down to the next support at 210.314 will continue.
Caution: A possible reversal of the trend in the direction of the resistance zone at 211.305 is also possible.
Consider stop-loss settings accordingly.
Also there is a ‘Shooting Star’ candle pattern is detected. The chart forms ‘Shooting Star’. 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 ‘Shooting Star’ heading down is 59% (Bull Market) & 60% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 213.092 |
| 2nd High | 211.433 |
| Next High | 211.305 |
| Current Price | 211.33300 |
| Next Low | 210.314 |
| 2nd Low | 209.623 |
| 3rd Low | 209.176 |
211.305 – 211.433 – 211.199 – 210.314 – 210.334 – 209.623 —
211.28200 – 211.39800 —
64.75414880632 – 65.920654860307 —
– —
211.305 – 1775214000
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Shooting Star – – – – – – – – –