GBP/JPY – 30M – SELLCorrection of the major bullish trend broke the Fibonacci 0.24-Level.Continuation of the current descending trend is considered certain. Target of the current trend is 191.9035 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of support at 193.49300 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Three Black Crows’ chart pattern is detected. The candles form ‘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 likelyhood of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 195.76700 |
| 2nd High | 193.74200 |
| Next High | 193.49300 |
| Current Price | 192.60000 |
| Next Low | 190.65700 |
| 2nd Low | 190.31400 |
| 3rd Low | 189.97500 |
193.49300 – 191.66300 – 191.26600 – 190.65700 – 190.31400 – 190.44800
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Black Crows