GBP/JPY – 1H – SELLThe pair British Pound/Japanese Yen (GBP/JPY) goes from the descending trendline down.
A continuation of the bearish trend down to the next support at 194.05400 will persist.
Caution: A possible reversal of the trend in the direction of the resistance line at 198.43800 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Bearish SBS White Lines’ candle chart pattern is existing. The chart forms ‘Bearish SBS White Lines’. 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 chance of ‘Bearish SBS White Lines’ heading down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 199.55300 |
| 2nd High | 198.45500 |
| Next High | 198.43800 |
| Current Price | 197.92600 |
| Next Low | 194.05400 |
| 2nd Low | 193.62500 |
| 3rd Low | 192.85100 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Bearish SBS White Lines