GBP/JPY – 1H – SELLIn addition a ‘Rising Wedge Chart Pattern’ chart formation is discovered. The chart picture forms ‘Rising Wedge Chart Pattern’. which is a bearish pattern signal. The currency pair is likely to fall.
The pair British Pound/Japanese Yen (GBP/JPY) goes from the ascending trendline downwards
A bearish descent downwards to the next support at 210.791 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance zone at 212.721 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Two Crows’ candle pattern is discovered. The candles show ‘Two Crows’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Two Crows’ heading down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 213.299 |
| 2nd High | 212.867 |
| Next High | 212.721 |
| Current Price | 212.34300 |
| Next Low | 210.791 |
| 2nd Low | 209.176 |
| 3rd Low | 209.039 |
212.721 – 212.482 – 211.579 – 210.791 – 211.946 – 211.628 —
212.14100 – 212.76400 —
58.652234730897 – 68.837877983014 —
– —
212.721 – 1773864000
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Two Crows – Rising Wedge Chart Pattern – – – – – – – –