GBP/JPY – 1H – SELL

The pair British Pound/Japanese Yen (GBP/JPY) goes from the ascending trendline downwards

A descent down to the next support line at will persist.

Caution: A possible trend reversal in the direction of the resistance level at 207.355 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

There is also a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is detected. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. which could be a negative chart signal. The currency pair is likely to fall.

There is also a ‘Three Outside Down’ candlestick pattern is discovered. The candles form ‘Three Outside 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 Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

207.355 – 206.248 – 207.194 – 206.344 – 205.473 – 205.19 —
206.79100 – 206.78100 —
48.66266548101 – 50.251839853961 —
– —
207.35500 – 1764831600

Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Outside Down – Double bottom chart pattern – – – – – – – –