GBP/JPY – 1H – SELL

The combination British Pound/Japanese Yen (GBP/JPY) jumps from the bearish trendline down.

A continuation of the downward movement down to the next support level at will persist.

Caution: A possible change in the direction of the resistance level at 197.55000 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

Additionally a ‘Exponential Moving Average 100 (EMA 100)’ indicator layout is discovered. The indicator is ‘Exponential Moving Average 100 (EMA 100)’. which is often a bearish chart signal. The pair is likely to go down.

Additionally a ‘Three Inside Down’ chart pattern is existing. The candles form ‘Three Inside Down’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Inside Down’ going down is 60% (Bull Market) & 63% (Bear Market).

197.55000 – 198.00400 – 198.74400 – 196.27200 – 197.21000 – 197.70300

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Inside Down – Double bottom retreat down