GBP/JPY – 30M – SELLThe currency pair British Pound/Japanese Yen (GBP/JPY) goes from the bullish trendline downwards
A bearish descent downwards to the next support level at 188.07200 will continue.
Caution: A possible trend reversal in the direction of the resistance line at 190.37300 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
There is also a ‘Bearish Engulfing’ chart pattern is detected. The chart shows ‘Bearish Engulfing’. this is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 192.29800 |
| 2nd High | 191.28000 |
| Next High | 190.37300 |
| Current Price | 190.24000 |
| Next Low | 188.07200 |
| 2nd Low | 186.68500 |
| 3rd Low | 185.81900 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Bearish Engulfing