GBP/JPY – 30M – SELLThe pair British Pound/Japanese Yen (GBP/JPY) jumps from the ascending trendline down.
A bearish descent downwards to the next support line at 195.39800 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance zone at 196.16700 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Three Black Crows’ candle pattern is found. The chart shows ‘Three Black Crows’. this is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 196.44100 |
| 2nd High | 196.23600 |
| Next High | 196.16700 |
| Current Price | 196.14400 |
| Next Low | 195.39800 |
| 2nd Low | 194.97500 |
| 3rd Low | 193.75600 |
196.16700 – 196.05800 – 195.97000 – 195.39800 – 194.97500 – 193.75600
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Black Crows