GBP/JPY – 30M – SELLCorrection of the major bullish trend broke the Fibonacci 0.24-Level.Continuation of the current descending trend will continue. Current target is 208.4525 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the support line at 209.476 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Two Crows’ candle pattern is existing. The candles show ‘Two Crows’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Two Crows’ heading down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 210.511 |
| 2nd High | 209.678 |
| Next High | 209.476 |
| Current Price | 208.99500 |
| Next Low | 207.612 |
| 2nd Low | 207.227 |
| 3rd Low | 207.045 |
208.307 – 208.003 – 209.476 – 207.612 – 207.227 – 207.341 —
208.64500 – 209.17100 —
60.989321817268 – 73.828402820668 —
– —
208.307 – 1771387200
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Two Crows – – – – – – – – –