GBP/JPY – 4H – 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 line at 198.271 will persist.
Caution: A possible change in the direction of the resistance line at 199.531 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is found. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. this is usually a bearish chart signal. The currency pair is likely to fall.
And also a ‘Resistance Level’ indicator signal is discovered. The indicator is ‘Resistance Level’. which is often a bearish chart scenario. The pair is likely to go down.
Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend will persist. Current target is 197.138 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of support at 199.531 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Three Black Crows’ candle chart pattern is found. The chart forms ‘Three Black Crows’. this is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 200.264 |
| Next High | 199.531 |
| Current Price | 198.38000 |
| Next Low | 198.271 |
| 2nd Low | 197.854 |
| 3rd Low | 195.356 |
199.183 – 199.531 – 200.264 – 198.271 – 197.854 – 195.356 — 46.116210164522 – 41.875142167264 — 62.860503271462 – 30.429777471002 – 82.308311409238 – 59.276799386431
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Black Crows – Double bottom chart pattern – –