GBP/JPY – 1H – SELL

In addition a ‘Double bottom retreat down’ chart pattern is discovered. The chart forms ‘Double bottom retreat down’. which is a bearish pattern signal. The currency pair is likely to go down.

The pair British Pound/Japanese Yen (GBP/JPY) jumps from the ascending trendline downwards

The bearish trend downwards to the next support at 199.289 is considered certain.

Caution: A possible reversal of the trend in the direction of the resistance level at 200.142 should be noted.
In the case of a trade, always set appropriate stop-loss settings.

In addition a ‘Three Black Crows’ candle pattern is found. The chart shows ‘Three Black Crows’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ heading down is 82%.

199.8 – 200.142 – 199.132 – 199.289 – 198.786 – 199.353 — 60.386173259572 – 54.249297154483 — 76.89198450328 – 54.434302632237 – 87.444481083359 – 73.029401965393

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Black Crows – Double bottom retreat down – –