GBP/JPY – 1H – SELL

The pair British Pound/Japanese Yen (GBP/JPY) jumps from the bullish trendline down.

A bearish movement down to the next support at 195.84100 is likely expected.

Caution: A possible change in the direction of the resistance zone at 198.25200 is also possible.
Please make appropriate stop-loss settings in the case of a trade.

Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is likely expected. Current target is 196.5675 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of support at 198.25200 is also possible.
Please make appropriate stop-loss settings in the case of a trade.

Also there is a ‘Three Black Crows’ candle pattern is detected. The candles form ‘Three Black Crows’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ heading down is 82%.

Download GBP/JPY Signal Image

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Black Crows