GBP/JPY – 30M – SELLBesides a ‘Double top chart pattern’ chart formation is existing. The chart picture shows ‘Double top chart pattern’. which is a negative pattern signal. The currency pair is likely to fall.
The combination British Pound/Japanese Yen (GBP/JPY) goes from the bearish trendline downwards
A continuation of the downward movement downwards to the next support line at 211.278 will persist.
Caution: A possible change in the direction of the resistance level at 211.75 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘%K crosses below %D’ indicator signal is detected. The indicator is ‘%K crosses below %D’. which could be a negative signal. The pair is likely to go down.
Besides a ‘Support Level’ indicator layout is discovered. The indicator shows ‘Support Level’. which could be a negative signal. The currency pair is likely to fall.
Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend will persist. Current target is 210.889984 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of the support level at 211.75 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 212.146 |
| 2nd High | 212.075 |
| Next High | 211.75 |
| Current Price | 211.14200 |
| Next Low | 211.278 |
| 2nd Low | 210.502 |
| 3rd Low | 210.338 |
211.75 – 211.738 – 212.075 – 211.278 – 211.306 – 210.502 —
211.24900 – 211.41400 —
33.297638230738 – 50.427831305071 —
– —
211.75000 – 1767758400
Trading Signals: FOREX – GBP – GBP/JPY – JPY – – Double top chart pattern – – – – – – – –