GBP/JPY – 30M – SELLThe currency pair British Pound/Japanese Yen (GBP/JPY) goes from the bullish trendline down.
A bearish movement down to the next support level at is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance line at 194.65300 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Exponential Moving Average 100 (EMA 100)’ indicator layout is detected. The indicator shows ‘Exponential Moving Average 100 (EMA 100)’. which could be a negative chart scenario. The currency pair could go down.
Besides a ‘Three Outside Down’ chart pattern is existing. The chart forms ‘Three Outside Down’. 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 likelyhood of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).
Besides a ‘Double top chart pattern’ chart pattern is discovered. The formation shows ‘Double top chart pattern’. which is a negative chart scenario. The pair is likely to go down.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 194.99800 |
| Next High | 194.65300 |
| Current Price | 194.02200 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
194.65300 – 194.99800 – 193.58300 – 194.29600 – 193.34800 – 192.01400
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Outside Down