GBP/JPY – 30M – SELL

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

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

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

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

And also a ‘Last Engulfing Bottom:’ chart pattern is discovered. The candles form ‘Last Engulfing Bottom:’. this is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Last Engulfing Bottom:’ going down is 65% (Bull Market) & 67% (Bear Market).

197.55000 – 197.74800 – 198.00400 – 196.94200 – 196.27200 – 197.18400

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Last Engulfing Bottom: – Head and Shoulder chart pattern