GBP/JPY – 30M – SELLThe combination British Pound/Japanese Yen (GBP/JPY) jumps from the bearish trendline down.
A continuation of the downtrend downwards to the next support level at 194.18900 is certain.
Caution: A possible change in the direction of the resistance zone at 196.01100 should always be considered.
Consider stop-loss settings accordingly.
Next a ‘Three Black Crows’ chart pattern is detected. The candles form ‘Three Black Crows’. 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 ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 198.19200 |
| 2nd High | 197.53900 |
| Next High | 196.01100 |
| Current Price | 193.92000 |
| Next Low | 194.18900 |
| 2nd Low | 194.05400 |
| 3rd Low | 193.82700 |
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Black Crows