GBP/JPY – 4H – SELL

The pair British Pound/Japanese Yen (GBP/JPY) goes from the ascending trendline downwards

The bearish trend downwards to the next support level at 190.31400 is likely expected.

Caution: A possible counter-trend in the direction of resistance at 193.74200 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

Besides a ‘Three Black Crows’ candlestick chart pattern is found. The chart forms ‘Three Black Crows’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ heading down is 82%.

193.74200 – 191.71600 – 189.65200 – 190.31400 – 189.97500 – 187.46000

Download GBP/JPY Signal Image

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Black Crows