GBP/JPY – 1H – SELLThe currency pair British Pound/Japanese Yen (GBP/JPY) moves from the bullish trendline downwards
A bearish trend down to the next support at 196.59900 will continue.
Caution: A possible change in the direction of resistance at 198.94600 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Three Black Crows’ candlestick pattern is detected. The candles show ‘Three Black Crows’. this is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 199.55300 |
| Next High | 198.94600 |
| Current Price | 196.75500 |
| Next Low | 196.59900 |
| 2nd Low | 196.43900 |
| 3rd Low | 195.74500 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Black Crows