GBP/JPY – 4H – SELLThe currency pair British Pound/Japanese Yen (GBP/JPY) goes from the ascending trendline downwards
A descent down to the next support level at 192.85100 is considered certain.
Caution: A possible change in the direction of the resistance zone at 195.89500 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Three Line Strike – Bearish’ candle chart pattern is existing. The candles show ‘Three Line Strike – Bearish’. 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 Line Strike – Bearish’ heading down is 84% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 198.43800 |
| 2nd High | 197.78100 |
| Next High | 195.89500 |
| Current Price | 194.52800 |
| Next Low | 192.85100 |
| 2nd Low | 190.59400 |
| 3rd Low | 188.07200 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Line Strike – Bearish