GBP/JPY – 30M – SELLThe pair British Pound/Japanese Yen (GBP/JPY) jumps from the descending trendline down.
A continuation of the bearish trend downwards to the next support at 193.82700 will persist.
Caution: A possible counter-trend in the direction of the resistance line at 195.89500 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Three Black Crows’ candle chart pattern is found. The chart forms ‘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 probability of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 197.78100 |
| 2nd High | 196.41700 |
| Next High | 195.89500 |
| Current Price | 195.14700 |
| Next Low | 193.82700 |
| 2nd Low | 193.62500 |
| 3rd Low | 192.85100 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Black Crows