GBP/JPY – 30M – SELLCorrection of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is likely expected. Target of the current trend is 188.466 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of support at 190.37300 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Three Black Crows’ chart pattern is discovered. The candles show ‘Three Black Crows’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 192.29800 |
| 2nd High | 191.28000 |
| Next High | 190.37300 |
| Current Price | 189.16200 |
| Next Low | 188.46600 |
| 2nd Low | 188.16400 |
| 3rd Low | 186.68500 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Black Crows