GBP/JPY – 30M – SELLThe combination British Pound/Japanese Yen (GBP/JPY) goes from the bullish trendline downwards
A bearish movement down to the next support level at 192.44600 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance level at 194.10300 could happen.
Consider stop-loss settings accordingly.
Moreover a ‘Three Black Crows’ chart pattern is existing. The chart shows ‘Three Black Crows’. this is a bearish 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 | 194.80200 |
| 2nd High | 194.62100 |
| Next High | 194.10300 |
| Current Price | 193.47300 |
| Next Low | 192.44600 |
| 2nd Low | 190.59400 |
| 3rd Low | 190.33800 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Black Crows