GBP/JPY – 30M – SELL

The combination British Pound/Japanese Yen (GBP/JPY) goes from the bearish trendline downwards

A continuation of the bearish trend downwards to the next support line at 197.03800 is certain.

Caution: A possible counter-trend in the direction of the resistance level at 198.00400 should be noted.
Consider stop-loss settings accordingly.

And also a ‘Support Level’ indicator layout is existing. The indicator shows ‘Support Level’. this is usually a bearish chart scenario. The pair is likely to go down.

Correction of the major bearish trend halted around the Fibonacci 0-Level.Continuation of the current descending trend is certain. Target of the current trend is 197.184 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of support at 198.00400 should be noted.
Consider stop-loss settings accordingly.

And also a ‘Three Black Crows’ candlestick pattern is detected. 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 chance of ‘Three Black Crows’ going down is 82%.

198.00400 – 198.74400 – 198.80000 – 197.18400 – 197.21000 – 197.74400

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Black Crows – Double top chart pattern