GBP/JPY – 1H – SELL

The pair British Pound/Japanese Yen (GBP/JPY) moves from the bullish trendline down.

A bearish movement down to the next support level at 199.216 is considered certain.

Caution: A possible counter-trend in the direction of the resistance line at 199.855 should always be considered.
Consider stop-loss settings accordingly.

Next a ‘Resistance Level’ indicator signal is discovered. The indicator shows ‘Resistance Level’. this is usually a bearish signal. The pair is likely to go down.

Next a ‘Three Black Crows’ chart pattern is existing. The candles form ‘Three Black Crows’. this is a bearish signal. The currency 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’ going down is 82%.

199.132 – 199.183 – 199.05 – 199.216 – 198.371 – 198.271 — 53.333325043798 – 41.138158753777 — 69.078801331853 – 35.74546799852 – 87.172277716118 – 65.754100382291

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