GBP/JPY – 30M – SELLThe pair British Pound/Japanese Yen (GBP/JPY) goes from the bullish trendline downwards
A descent downwards to the next support line at 196.31000 is certain.
Caution: A possible counter-trend in the direction of the resistance line at 198.94500 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
There is also a ‘Evening Star’ candle chart pattern is found. The candles show ‘Evening Star’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Evening Star’ heading down is 72% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 199.55300 |
| 2nd High | 199.37100 |
| Next High | 198.94500 |
| Current Price | 196.84700 |
| Next Low | 196.31000 |
| 2nd Low | 195.74500 |
| 3rd Low | 194.05400 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Evening Star