GBP/JPY – 30M – SELLThe combination British Pound/Japanese Yen (GBP/JPY) moves from the descending trendline down.
A continuation of the downward movement downwards to the next support at 190.44800 is likely expected.
Caution: A possible trend reversal in the direction of resistance at 191.33700 could occur.
Consider stop-loss settings accordingly.
Additionally a ‘Three Black Crows’ candle pattern is discovered. The candles show ‘Three Black Crows’. which is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ going down is 82%.
Additionally a ‘Support Level’ indicator layout is found. The indicator shows ‘Support Level’. which could be a negative chart scenario. The pair is likely to go down.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 191.81700 |
| 2nd High | 191.34200 |
| Next High | 191.33700 |
| Current Price | 190.72900 |
| Next Low | 190.44800 |
| 2nd Low | 190.33200 |
| 3rd Low | 189.97500 |
191.33700 – 191.34200 – 191.81700 – 190.44800 – 190.85000 – 191.54700
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Black Crows