GBP/JPY – 1H – SELLThe combination British Pound/Japanese Yen (GBP/JPY) goes from the ascending trendline downwards
A bearish descent downwards to the next support at 190.66000 is expected.
Caution: A possible counter-trend in the direction of the resistance line at 191.71600 could occur.
In the case of a trade, always set appropriate stop-loss settings.
There is also a ‘Two Crows’ candle chart pattern is existing. The chart forms ‘Two Crows’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Two Crows’ going down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 195.76700 |
| 2nd High | 193.66300 |
| Next High | 191.71600 |
| Current Price | 191.24100 |
| Next Low | 190.66000 |
| 2nd Low | 189.29800 |
| 3rd Low | 188.19900 |
191.71600 – 190.30800 – 189.95600 – 190.66000 – 189.29800 – 188.19900