GBP/JPY – 1H – SELLThe combination British Pound/Japanese Yen (GBP/JPY) jumps from the bullish trendline downwards
A bearish descent downwards to the next support level at 194.64900 is certain.
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.
There is also a ‘Three Black Crows’ candle pattern is detected. The candles form ‘Three Black Crows’. this is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 198.43800 |
| 2nd High | 197.78100 |
| Next High | 195.89500 |
| Current Price | 194.78700 |
| Next Low | 194.64900 |
| 2nd Low | 193.62500 |
| 3rd Low | 192.85100 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Black Crows