GBP/JPY – 30M – SELLThe pair British Pound/Japanese Yen (GBP/JPY) goes from the ascending trendline downwards
A descent downwards to the next support line at 192.52800 is likely expected.
Caution: A possible counter-trend in the direction of resistance at 193.72400 could occur.
Consider stop-loss settings accordingly.
Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is likely expected. Current target is 192.528 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of the support level at 193.72400 could occur.
Consider stop-loss settings accordingly.
Besides a ‘Three Black Crows’ candlestick chart pattern is discovered. The candles form ‘Three Black Crows’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 194.80200 |
| 2nd High | 194.62100 |
| Next High | 193.72400 |
| Current Price | 192.72300 |
| Next Low | 192.52800 |
| 2nd Low | 191.73000 |
| 3rd Low | 190.40600 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Black Crows