GBP/JPY – 1H – BUYThe pair British Pound/Japanese Yen (GBP/JPY) moves from the ascending trendline downwards
A descending movement down to the next support line at 192.34300 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance level at 193.49300 could occur.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Two Crows’ candlestick chart pattern is discovered. The chart shows ‘Two Crows’. which is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Two Crows’ heading down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 195.76700 |
| 2nd High | 193.74200 |
| Next High | 193.49300 |
| Current Price | 193.74000 |
| Next Low | 192.34300 |
| 2nd Low | 190.65700 |
| 3rd Low | 190.31400 |
193.49300 – 191.66300 – 192.62900 – 192.34300 – 190.65700 – 190.31400