GBP/JPY – 30M – SELL

The pair British Pound/Japanese Yen (GBP/JPY) moves from the bullish trendline downwards

A bearish descent downwards to the next support level at 203.127 is likely expected.

Caution: A possible reversal of the trend in the direction of the resistance zone at 204.52 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Then a ‘Three Outside Down’ candlestick pattern is found. The chart shows ‘Three Outside Down’. which is a bearish 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 Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

204.52 – 203.602 – 203.946 – 203.127 – 202.34 – 202.631 —
204.25800 – 204.23400 —
56.105675287146 – 51.875446218951 —
– —
204.52000 – 1763406000

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Outside Down – – – – –