GBP/JPY – 30M – SELLThe pair British Pound/Japanese Yen (GBP/JPY) moves from the descending trendline down.
A continuation of the downward movement downwards to the next support level at 193.34800 is considered certain.
Caution: A possible change in the direction of the resistance line at 195.31200 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Three Black Crows’ candlestick chart pattern is existing. The candles show ‘Three Black Crows’. which is a bearish pattern signal. The currency 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 | 195.96900 |
| Next High | 195.31200 |
| Current Price | 193.12500 |
| Next Low | 193.34800 |
| 2nd Low | 192.01400 |
| 3rd Low | 191.45600 |
195.31200 – 195.96900 – 194.36700 – 194.63700 – 193.49500 – 193.46400
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Black Crows