GBP/JPY – 30M – SELLThe combination British Pound/Japanese Yen (GBP/JPY) moves from the bearish trendline down.
A continuation of the bearish trend down to the next support level at 198.31600 is certain.
Caution: A possible change in the direction of the resistance zone at 199.53100 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Tweezers Top’ candle chart pattern is existing. The chart shows ‘Tweezers Top’. 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 ‘Tweezers Top’ going down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 199.86100 |
| 2nd High | 199.85500 |
| Next High | 199.53100 |
| Current Price | 199.01100 |
| Next Low | 198.31600 |
| 2nd Low | 198.11900 |
| 3rd Low | 197.85400 |
199.53100 – 199.31800 – 199.22600 – 198.31600 – 198.84800 – 198.75400 — 58.961204851649 – 55.825814672041 — 85.271252913509 – 82.805063573811 – 80.907851702978 – 83.578742666797
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Tweezers Top – – –