GBP/JPY – 1H – SELLThe pair British Pound/Japanese Yen (GBP/JPY) moves from the bullish trendline downwards
A bearish trend down to the next support at 197.20500 will continue.
Caution: A possible trend reversal in the direction of resistance at 198.94500 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Three Black Crows’ candlestick pattern is discovered. The chart shows ‘Three Black Crows’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 199.55300 |
| Next High | 198.94500 |
| Current Price | 198.25600 |
| Next Low | 197.20500 |
| 2nd Low | 196.59900 |
| 3rd Low | 196.43900 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Black Crows